AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $42.40.

AB has been the subject of several research reports. Evercore ISI lifted their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays dropped their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th.

AllianceBernstein Trading Up 1.4 %

Shares of AB stock opened at $40.78 on Friday. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.81 and a beta of 1.20. The firm’s 50 day moving average is $36.72 and its 200-day moving average is $35.67. AllianceBernstein has a 1 year low of $30.57 and a 1 year high of $40.86.

Hedge Funds Weigh In On AllianceBernstein

Several hedge funds have recently made changes to their positions in AB. Jennison Associates LLC raised its holdings in AllianceBernstein by 7.0% during the fourth quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager’s stock worth $34,852,000 after acquiring an additional 61,326 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at $61,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein during the 4th quarter worth about $37,000. New England Research & Management Inc. lifted its stake in AllianceBernstein by 51.2% in the 4th quarter. New England Research & Management Inc. now owns 15,950 shares of the asset manager’s stock valued at $592,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Manning & Napier Advisors LLC grew its holdings in AllianceBernstein by 28.6% during the fourth quarter. Manning & Napier Advisors LLC now owns 180,000 shares of the asset manager’s stock worth $6,676,000 after purchasing an additional 40,000 shares during the period. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.