AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Recommendation of “Hold” by Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been given an average rating of “Hold” by the eight analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.8333.

Several brokerages recently weighed in on AB. Zacks Research downgraded shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. TD Cowen reiterated a “hold” rating on shares of AllianceBernstein in a research note on Wednesday, January 14th. Evercore ISI boosted their target price on AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Finally, Barclays reduced their price target on AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of AllianceBernstein by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after purchasing an additional 312,878 shares in the last quarter. Focus Partners Wealth increased its holdings in AllianceBernstein by 1,154.2% in the third quarter. Focus Partners Wealth now owns 336,502 shares of the asset manager’s stock valued at $12,861,000 after buying an additional 309,673 shares during the last quarter. HRT Financial LP raised its stake in AllianceBernstein by 438.1% in the second quarter. HRT Financial LP now owns 108,143 shares of the asset manager’s stock valued at $4,415,000 after buying an additional 88,045 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in AllianceBernstein by 131.6% during the 3rd quarter. Moody Aldrich Partners LLC now owns 137,341 shares of the asset manager’s stock worth $5,249,000 after buying an additional 78,047 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of AllianceBernstein during the 2nd quarter worth about $3,135,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $42.46 on Friday. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The business has a 50-day moving average of $40.09 and a 200 day moving average of $39.76. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $44.11.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.