Highland Capital Management LLC Lowers Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Highland Capital Management LLC trimmed its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 64.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,433 shares of the asset manager's stock after selling 29,450 shares during the period. Highland Capital Management LLC's holdings in AllianceBernstein were worth $610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in AllianceBernstein by 426.8% in the second quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager's stock worth $9,248,000 after purchasing an additional 221,736 shares in the last quarter. Creative Planning lifted its position in AllianceBernstein by 21.5% during the second quarter. Creative Planning now owns 14,536 shares of the asset manager's stock valued at $491,000 after acquiring an additional 2,569 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in AllianceBernstein by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,449 shares of the asset manager's stock worth $590,000 after purchasing an additional 1,150 shares during the last quarter. Cetera Investment Advisers increased its position in shares of AllianceBernstein by 1.4% during the second quarter. Cetera Investment Advisers now owns 128,951 shares of the asset manager's stock worth $4,357,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of AllianceBernstein during the 2nd quarter valued at $622,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AB has been the topic of several research analyst reports. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, December 9th. Evercore ISI increased their price objective 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

AllianceBernstein Stock Performance

NYSE AB traded up $0.44 during trading hours on Tuesday, reaching $39.20. The stock had a trading volume of 221,881 shares, compared to its average volume of 483,031. AllianceBernstein Holding L.P. has a 52-week low of $30.57 and a 52-week high of $40.86. The stock has a market cap of $4.51 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21. The stock has a fifty day moving average of $37.12 and a 200 day moving average of $35.93.

About AllianceBernstein

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.