Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) Price Target at $42.40

AllianceBernstein Holding L.P. (NYSE:AB) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.40.

Several equities analysts have recently commented on AB shares. The Goldman Sachs Group upped their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays reduced their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th.

AllianceBernstein Trading Up 0.6 %

Shares of NYSE:AB opened at $40.21 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. The company has a 50-day moving average price of $36.86 and a 200-day moving average price of $35.77. AllianceBernstein has a 12 month low of $30.57 and a 12 month high of $40.86.

Institutional Investors Weigh In On AllianceBernstein

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blair William & Co. IL bought a new position in shares of AllianceBernstein in the second quarter worth approximately $226,000. Sei Investments Co. lifted its position in AllianceBernstein by 3.8% during the second quarter. Sei Investments Co. now owns 160,489 shares of the asset manager’s stock valued at $5,423,000 after purchasing an additional 5,891 shares during the period. EverSource Wealth Advisors LLC lifted its position in AllianceBernstein by 79.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,607 shares of the asset manager’s stock valued at $92,000 after purchasing an additional 1,153 shares during the period. The Manufacturers Life Insurance Company lifted its position in AllianceBernstein by 426.8% during the second quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock valued at $9,248,000 after purchasing an additional 221,736 shares during the period. Finally, Creative Planning lifted its position in AllianceBernstein by 21.5% during the second quarter. Creative Planning now owns 14,536 shares of the asset manager’s stock valued at $491,000 after purchasing an additional 2,569 shares during the period. Hedge funds and other institutional investors own 19.25% of the company’s stock.

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.