AllianceBernstein Holding L.P. (NYSE:AB) Receives $41.20 Consensus Target Price from Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $41.20.

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

Insider Activity

In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the transaction, the director now directly owns 25,923 shares of the company’s stock, valued at $903,935.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On AllianceBernstein

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. boosted its position in AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after buying an additional 329 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of AllianceBernstein in the 1st quarter valued at $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of AllianceBernstein in the 2nd quarter valued at $31,000. Register Financial Advisors LLC acquired a new stake in shares of AllianceBernstein in the 1st quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of AllianceBernstein by 1,354.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 1,354 shares in the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Up 1.8 %

AB opened at $38.33 on Friday. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $38.96. The company has a 50-day moving average price of $35.10 and a 200 day moving average price of $34.11. The company has a market cap of $4.41 billion, a PE 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 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.81%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $807.42 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that AllianceBernstein will post 3.02 earnings per share for the current 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.