Barclays Raises AllianceBernstein (NYSE:AB) Price Target to $36.00

AllianceBernstein (NYSE:AB - Get Free Report) had its target price hoisted by research analysts at Barclays from $34.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the asset manager's stock. Barclays's price objective would suggest a potential downside of 2.62% from the company's current price.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein lowered shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price objective for the company. in a report on Thursday, April 3rd. Evercore ISI cut their price objective on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. TD Cowen decreased their target price on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $38.00 in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, AllianceBernstein has a consensus rating of "Hold" and an average target price of $37.50.

AllianceBernstein Trading Up 0.0 %

AB stock traded up $0.02 during trading on Wednesday, reaching $36.97. The stock had a trading volume of 358,551 shares, compared to its average volume of 443,050. The firm has a fifty day moving average price of $37.05 and a 200 day moving average price of $36.97. The company has a market capitalization of $4.09 billion, a P/E ratio of 9.94, a PEG ratio of 0.78 and a beta of 0.97. AllianceBernstein has a 1-year low of $30.57 and a 1-year high of $41.37.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Sell-side analysts predict that AllianceBernstein will post 3.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AB. Transce3nd LLC bought a new position in AllianceBernstein in the 4th quarter valued at about $25,000. Luken Investment Analytics LLC bought a new position in shares of AllianceBernstein in the fourth quarter valued at approximately $37,000. Summit Securities Group LLC bought a new stake in AllianceBernstein during the fourth quarter worth approximately $41,000. Harbor Investment Advisory LLC acquired a new stake in AllianceBernstein in the first quarter worth approximately $48,000. Finally, HHM Wealth Advisors LLC bought a new position in AllianceBernstein during the 4th quarter valued at $61,000. Institutional investors and hedge funds own 19.25% of the company's stock.

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.