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

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.40.

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

AllianceBernstein Price Performance

Shares of AB opened at $40.78 on Friday. The company’s 50-day moving average is $36.72 and its 200-day moving average is $35.67. The firm has a market capitalization of $4.70 billion, a PE ratio of 11.68, a PEG ratio of 0.81 and a beta of 1.20. AllianceBernstein has a fifty-two week low of $30.57 and a fifty-two week high of $40.86.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AB. FMR LLC lifted its stake in AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock valued at $91,181,000 after purchasing an additional 154,039 shares during the last quarter. JPMorgan Chase & Co. grew its position in AllianceBernstein by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock worth $85,633,000 after acquiring an additional 265,844 shares during the last quarter. Jennison Associates LLC increased its holdings in AllianceBernstein by 7.0% in the 4th quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager’s stock worth $34,852,000 after purchasing an additional 61,326 shares in the last quarter. Citigroup Inc. raised its position in AllianceBernstein by 59.1% in the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after purchasing an additional 239,941 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of AllianceBernstein by 0.5% during the third quarter. Franklin Resources Inc. now owns 413,165 shares of the asset manager’s stock valued at $14,919,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

About AllianceBernstein

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.