Zacks Investment Research upgraded shares of AllianceBernstein Holding LP (NYSE:AB) from a sell rating to a hold rating in a report issued on Monday morning.

According to Zacks, “ALLIANCE CAP MANAGEMENT L.P. provides diversified investment management services, primarily to pension funds, endowments, foreign financial institutions, and to individual investors. “

AB has been the topic of a number of other research reports. Jefferies Group raised their price objective on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the stock a hold rating in a report on Monday, July 11th. Citigroup Inc. dropped 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $25.26.

Shares of AllianceBernstein Holding (NYSE:AB) traded up 0.22% during trading on Monday, hitting $22.30. 12,188 shares of the stock were exchanged. The stock has a market cap of $2.15 billion, a PE ratio of 11.59 and a beta of 1.31. AllianceBernstein Holding has a 52-week low of $16.11 and a 52-week high of $27.70. The firm has a 50 day moving average of $22.28 and a 200-day moving average of $22.94.

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

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

A number of large investors have recently made changes to their positions in AB. Sadoff Investment Management LLC boosted its stake in shares of AllianceBernstein Holding by 2.4% in the third quarter. Sadoff Investment Management LLC now owns 236,800 shares of the company’s stock valued at $5,399,000 after buying an additional 5,450 shares in the last quarter. New England Research & Management Inc. boosted its position in AllianceBernstein Holding by 10.4% in the third quarter. New England Research & Management Inc. now owns 62,088 shares of the company’s stock worth $1,416,000 after buying an additional 5,850 shares during the period. Royal Bank of Canada boosted its position in AllianceBernstein Holding by 4.5% in the second quarter. Royal Bank of Canada now owns 51,923 shares of the company’s stock worth $1,210,000 after buying an additional 2,234 shares during the period. IFP Advisors Inc boosted its position in AllianceBernstein Holding by 18.6% in the second quarter. IFP Advisors Inc now owns 14,845 shares of the company’s stock worth $346,000 after buying an additional 2,323 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in AllianceBernstein Holding during the second quarter worth $112,000. Institutional investors own 26.31% of the company’s stock.

AllianceBernstein Holding Company Profile

AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services.

5 Day Chart for NYSE:AB

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