Today, Brokerages gives Consensus Recommendation of “Hold” to AllianceBernstein Holding LP (NYSE:AB)

Today, Brokerages gives Consensus Recommendation of “Hold” to AllianceBernstein Holding LP (NYSE:AB)

AllianceBernstein Holding LP (NYSE:AB) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.85.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of AllianceBernstein Holding from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Jefferies Group upped their price objective on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the company a “hold” rating in a report on Monday, July 11th. Finally, Citigroup Inc. decreased their price objective on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, July 29th.

In related news, Director Weston M. Hicks sold 4,539 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $21.50, for a total value of $97,588.50. Following the transaction, the director now directly owns 26,469 shares in the company, valued at $569,083.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Allianz Asset Management AG boosted its stake in AllianceBernstein Holding by 13.0% in the second quarter. Allianz Asset Management AG now owns 1,415,792 shares of the company’s stock valued at $32,988,000 after buying an additional 163,000 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in AllianceBernstein Holding by 2.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 277,000 shares of the company’s stock valued at $6,454,000 after buying an additional 7,200 shares in the last quarter. Stifel Financial Corp boosted its stake in AllianceBernstein Holding by 0.4% in the second quarter. Stifel Financial Corp now owns 229,359 shares of the company’s stock valued at $5,343,000 after buying an additional 890 shares in the last quarter. UBS Group AG boosted its stake in AllianceBernstein Holding by 2.5% in the first quarter. UBS Group AG now owns 160,766 shares of the company’s stock valued at $3,766,000 after buying an additional 3,919 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ boosted its stake in AllianceBernstein Holding by 25.0% in the second quarter. Groesbeck Investment Management Corp NJ now owns 125,150 shares of the company’s stock valued at $2,916,000 after buying an additional 25,000 shares in the last quarter. 26.31% of the stock is owned by institutional investors and hedge funds.

Shares of AllianceBernstein Holding (NYSE:AB) traded up 0.071% during trading on Thursday, reaching $22.536. 58,249 shares of the company traded hands. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $27.70. The stock has a market capitalization of $2.18 billion, a PE ratio of 11.713 and a beta of 1.31. The company has a 50-day moving average of $22.24 and a 200-day moving average of $22.94.

AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.04. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. The firm had revenue of $725.80 million for the quarter, compared to the consensus estimate of $701.98 million. During the same period last year, the company posted $0.48 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. Analysts forecast that AllianceBernstein Holding will post $1.73 earnings per share for the current fiscal year.

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