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

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have earned an average rating of "Moderate Buy" from the five research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.40.

A number of equities research analysts have issued reports on AB shares. Barclays lowered their price target on 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 increased their target price 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. Finally, The Goldman Sachs Group raised 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.

AllianceBernstein Stock Up 1.7 %

Shares of NYSE AB traded up $0.63 during trading on Wednesday, hitting $37.09. 382,048 shares of the company traded hands, compared to its average volume of 309,214. The firm has a market capitalization of $4.27 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.83 and a beta of 1.21. The company has a 50-day moving average price of $36.58 and a 200-day moving average price of $35.20. AllianceBernstein has a 1 year low of $30.10 and a 1 year high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were paid a $0.77 dividend. This is a boost from AllianceBernstein's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.30%. AllianceBernstein's payout ratio is 88.25%.

Institutional Investors Weigh In On AllianceBernstein

Several hedge funds and other institutional investors have recently bought and sold shares of AB. JPMorgan Chase & Co. boosted its stake in AllianceBernstein by 12.1% during the 3rd 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 last quarter. Franklin Resources Inc. raised its stake in shares of AllianceBernstein by 0.5% in the 3rd 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. Wilmington Savings Fund Society FSB bought a new position in shares of AllianceBernstein during the third quarter worth about $180,000. Sanctuary Advisors LLC grew its stake in AllianceBernstein by 3.0% in the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager's stock worth $679,000 after purchasing an additional 549 shares in the last quarter. Finally, Second Line Capital LLC grew its stake in AllianceBernstein by 5.9% in the third quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager's stock worth $276,000 after purchasing an additional 443 shares in the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

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.