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

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) has received a consensus rating of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities 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 objective among brokers that have updated their coverage on the stock in the last year is $42.40.

Several research firms have commented on AB. The Goldman Sachs Group increased their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Barclays decreased 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. Finally, Evercore ISI lifted their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th.

Institutional Trading of AllianceBernstein

A number of large investors have recently bought and sold shares of the company. NBC Securities Inc. lifted its stake in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock valued at $25,000 after buying an additional 329 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of AllianceBernstein during the third quarter worth $31,000. FSA Wealth Management LLC purchased a new stake in shares of AllianceBernstein during the third quarter worth $36,000. Luken Investment Analytics LLC bought a new position in shares of AllianceBernstein in the fourth quarter worth $37,000. Finally, Farther Finance Advisors LLC grew its position in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock valued at $50,000 after purchasing an additional 764 shares in the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

AB traded up $0.57 during mid-day trading on Friday, reaching $40.78. 375,792 shares of the stock were exchanged, compared to its average volume of 393,307. AllianceBernstein has a 1 year low of $30.57 and a 1 year high of $40.86. The stock has a market capitalization of $4.70 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. The company has a 50 day moving average price of $36.72 and a two-hundred day moving average price of $35.68.

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.