Brokerages Set AllianceBernstein Holding L.P. (NYSE:AB) Price Target at $41.20

AllianceBernstein Holding L.P. (NYSE:AB) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $41.20.

Several research analysts recently commented on AB shares. Evercore ISI lifted their price target on AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays boosted their target price on AllianceBernstein from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen boosted their target price on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Insider Transactions at AllianceBernstein

In other news, insider Christopher Hogbin sold 12,781 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $34.87, for a total transaction of $445,673.47. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $348,700. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Christopher Hogbin sold 12,781 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $34.87, for a total transaction of $445,673.47. Following the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at $348,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Equitable Holdings, Inc. acquired 500,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On AllianceBernstein

Hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. boosted its holdings in AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of AllianceBernstein during the 1st quarter worth about $28,000. SJS Investment Consulting Inc. purchased a new stake in shares of AllianceBernstein during the 2nd quarter worth about $31,000. Register Financial Advisors LLC purchased a new stake in shares of AllianceBernstein during the 1st quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of AllianceBernstein by 1,354.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after acquiring an additional 1,354 shares in the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Trading Up 1.8 %

Shares of AB stock opened at $38.33 on Friday. AllianceBernstein has a 12-month low of $25.83 and a 12-month high of $38.96. The stock’s 50-day moving average price is $35.10 and its 200-day moving average price is $34.11. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $807.42 million. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. As a group, research analysts predict that AllianceBernstein will post 3.02 EPS for the current fiscal year.

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.