New England Research & Management Inc. Boosts Position in AllianceBernstein Holding L.P. (NYSE:AB)

New England Research & Management Inc. grew its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 51.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,950 shares of the asset manager’s stock after purchasing an additional 5,400 shares during the period. New England Research & Management Inc.’s holdings in AllianceBernstein were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AB. FMR LLC boosted its holdings in AllianceBernstein by 6.3% in the third quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock worth $91,181,000 after purchasing an additional 154,039 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after acquiring an additional 265,844 shares during the period. Jennison Associates LLC boosted its holdings in shares of AllianceBernstein by 12.2% during the third quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after acquiring an additional 95,847 shares during the period. Citigroup Inc. boosted its holdings in shares of AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after acquiring an additional 239,941 shares during the period. Finally, Franklin Resources Inc. boosted its holdings 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 acquiring an additional 2,000 shares during the period. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Down 1.7 %

Shares of NYSE AB opened at $39.53 on Thursday. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $40.86. The firm’s 50-day simple moving average is $36.90 and its 200 day simple moving average is $35.79. The stock has a market cap of $4.55 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.81 and a beta of 1.20.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AB. Barclays reduced their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. The Goldman Sachs Group boosted their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, 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 report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.40.

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.