AllianceBernstein Holding L.P. (NYSE:AB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $42.40.

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

AllianceBernstein Stock Up 1.0 %

Shares of NYSE AB opened at $39.84 on Friday. The company has a market capitalization of $4.59 billion, a PE ratio of 11.42, a PEG ratio of 0.81 and a beta of 1.20. The stock’s 50 day moving average price is $36.96 and its 200-day moving average price is $35.82. AllianceBernstein has a twelve month low of $30.57 and a twelve month high of $40.86.

Institutional Investors Weigh In On AllianceBernstein

Large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its position in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the period. Truvestments Capital LLC purchased a new stake in shares of AllianceBernstein during the 3rd quarter valued at approximately $31,000. FSA Wealth Management LLC bought a new position in AllianceBernstein in the 3rd quarter worth approximately $36,000. Luken Investment Analytics LLC purchased a new position in AllianceBernstein in the 4th quarter valued at approximately $37,000. Finally, Farther Finance Advisors LLC raised its holdings in AllianceBernstein by 115.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 764 shares during the period. Hedge funds and other institutional investors 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.