Manning & Napier Advisors LLC Buys 40,000 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Manning & Napier Advisors LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,000 shares of the asset manager's stock after acquiring an additional 40,000 shares during the period. Manning & Napier Advisors LLC owned 0.16% of AllianceBernstein worth $6,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AB. Jennison Associates LLC lifted its holdings in shares of AllianceBernstein by 12.2% during the third quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager's stock valued at $30,645,000 after purchasing an additional 95,847 shares during the last quarter. Citigroup Inc. lifted its position in shares of AllianceBernstein by 59.1% in the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager's stock valued at $22,528,000 after acquiring an additional 239,941 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AllianceBernstein by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager's stock worth $85,633,000 after buying an additional 265,844 shares during the period. Sequoia Financial Advisors LLC purchased a new position in AllianceBernstein during the 3rd quarter valued at about $671,000. Finally, International Assets Investment Management LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at about $31,650,000. Institutional investors and hedge funds own 19.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AB shares. The Goldman Sachs Group boosted their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, December 9th. Finally, Evercore ISI boosted their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.40.

AllianceBernstein Trading Up 1.6 %

AllianceBernstein stock traded up $0.61 during mid-day trading on Thursday, hitting $40.05. 106,928 shares of the company's stock were exchanged, compared to its average volume of 466,785. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $40.86. The stock has a 50 day moving average of $36.90 and a two-hundred day moving average of $35.79. The stock has a market cap of $4.61 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.81 and a beta of 1.20.

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.