AllianceBernstein (NYSE:AB) Price Target Raised to $37.00 at Barclays

AllianceBernstein (NYSE:AB - Get Free Report) had its price target upped by Barclays from $36.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Barclays's price target indicates a potential downside of 4.59% from the company's previous close.

Several other equities analysts have also commented on AB. 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 research report on Thursday, April 3rd. Evercore ISI lowered their price target on shares of AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 11th. TD Cowen lowered their price target on shares of AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Bank of America downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and lowered their price target for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $37.67.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded up $1.14 on Friday, hitting $38.78. 202,471 shares of the company traded hands, compared to its average volume of 440,760. The stock has a market capitalization of $4.29 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $41.37. The business has a 50-day simple moving average of $37.13 and a 200 day simple moving average of $37.08.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $838.21 million for the quarter, compared to analysts' expectations of $859.36 million. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. Research analysts expect that AllianceBernstein will post 3.58 earnings per share for the current year.

Institutional Trading of AllianceBernstein

Several institutional investors and hedge funds have recently modified their holdings of AB. FMR LLC increased its holdings in AllianceBernstein by 19.0% during the fourth quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after buying an additional 496,923 shares during the period. American Century Companies Inc. grew its holdings in AllianceBernstein by 1.1% in the fourth quarter. American Century Companies Inc. now owns 3,026,102 shares of the asset manager's stock worth $112,238,000 after purchasing an additional 33,888 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in AllianceBernstein by 18.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager's stock worth $107,552,000 after purchasing an additional 445,398 shares during the last quarter. Jennison Associates LLC grew its holdings in AllianceBernstein by 7.0% in the fourth quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager's stock worth $34,852,000 after purchasing an additional 61,326 shares during the last quarter. Finally, Natixis grew its holdings in AllianceBernstein by 16.4% in the fourth quarter. Natixis now owns 660,700 shares of the asset manager's stock worth $24,505,000 after purchasing an additional 93,300 shares during the last quarter. Institutional investors 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.