AllianceBernstein’s (AB) Equal Weight Rating Reiterated at Barclays

AllianceBernstein (NYSE:AB)‘s stock had its “equal weight” rating reaffirmed by analysts at Barclays in a report issued on Tuesday,Benzinga reports. They currently have a $34.00 target price on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 5.13% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America cut shares of AllianceBernstein from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. Sanford C. Bernstein cut AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research report on Thursday, April 3rd. Finally, TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and increased their target price for the stock from $38.00 to $38.50 in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AllianceBernstein has a consensus rating of “Hold” and an average price target of $38.33.

AllianceBernstein Stock Performance

NYSE:AB opened at $35.84 on Tuesday. AllianceBernstein has a 52-week low of $30.57 and a 52-week high of $41.37. The stock has a 50-day simple moving average of $37.10 and a 200 day simple moving average of $36.88. The company has a market cap of $3.96 billion, a PE ratio of 9.63, a PEG ratio of 0.78 and a beta of 0.97.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, research analysts predict that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AllianceBernstein

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of AllianceBernstein by 11.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,329 shares of the asset manager’s stock valued at $1,093,000 after purchasing an additional 3,339 shares during the period. Captrust Financial Advisors boosted its stake in shares of AllianceBernstein by 4.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after acquiring an additional 355 shares during the last quarter. Stifel Financial Corp grew its position in shares of AllianceBernstein by 2.6% during the 3rd quarter. Stifel Financial Corp now owns 208,120 shares of the asset manager’s stock valued at $7,261,000 after acquiring an additional 5,196 shares during the period. EP Wealth Advisors LLC bought a new stake in AllianceBernstein during the third quarter valued at about $322,000. Finally, XTX Topco Ltd purchased a new stake in AllianceBernstein in the third quarter worth about $418,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

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.