Janney Montgomery Scott LLC lifted its position in shares of AllianceBernstein Holding L.P. (NYSE:AB – Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,131 shares of the asset manager’s stock after purchasing an additional 4,422 shares during the period. Janney Montgomery Scott LLC’s holdings in AllianceBernstein were worth $3,788,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AB. Jennison Associates LLC raised its stake in AllianceBernstein by 12.2% in the third quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after buying an additional 95,847 shares in the last quarter. Citigroup Inc. increased its holdings in shares of AllianceBernstein by 59.1% in the 3rd 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 last quarter. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in AllianceBernstein during the third quarter worth approximately $671,000. Finally, International Assets Investment Management LLC acquired a new position in AllianceBernstein in the third quarter valued at approximately $31,650,000. Institutional investors and hedge funds own 19.25% of the company’s stock.
Wall Street Analyst Weigh In
AB has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report 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 decreased 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 note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AllianceBernstein currently has an average rating of “Moderate Buy” and an average target price of $42.40.
AllianceBernstein Price Performance
AB stock opened at $39.84 on Friday. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $40.86. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. The company has a fifty day moving average price of $36.96 and a 200 day moving average price of $35.82.
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.
Further Reading
- Five stocks we like better than AllianceBernstein
- Using the MarketBeat Dividend Tax Calculator
- How Growth Investors Find High-Growth Stocks and Maximize Returns
- What does consumer price index measure?
- Meta’s AI & Smart Glasses Could Drive 20%+ Upside in 2025
- High Dividend REITs: Are They an Ideal Way to Diversify?
- NVIDIA’s Slide Continues: Can Retail Investors Stop the Fall?
Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:AB – Free Report).
Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.