Zacks Investment Research downgraded shares of AllianceBernstein Holding L.P. (NYSE:AB) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

Several other equities analysts also recently commented on the stock. Sidoti began coverage on shares of AllianceBernstein Holding L.P. in a report on Monday, June 5th. They issued a buy rating and a $28.00 target price on the stock. ValuEngine cut shares of AllianceBernstein Holding L.P. from a buy rating to a hold rating in a research report on Friday, June 2nd. Bank of America Corporation upgraded shares of AllianceBernstein Holding L.P. from an underperform rating to a buy rating and boosted their price target for the stock from $24.00 to $25.00 in a research report on Wednesday, April 12th. Finally, Keefe, Bruyette & Woods upgraded shares of AllianceBernstein Holding L.P. from a market perform rating to an outperform rating and set a $26.00 price target on the stock in a research report on Wednesday, April 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $25.50.

Analyst Recommendations for AllianceBernstein Holding L.P. (NYSE:AB)

Shares of AllianceBernstein Holding L.P. (NYSE AB) opened at 23.30 on Tuesday. The company has a 50-day moving average of $21.92 and a 200 day moving average of $22.78. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.88 and a beta of 1.50. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $25.13.

AllianceBernstein Holding L.P. (NYSE:AB) last released its earnings results on Thursday, April 27th. The asset manager reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. AllianceBernstein Holding L.P. had a net margin of 9.74% and a return on equity of 18.31%. The firm had revenue of $764.92 million for the quarter, compared to the consensus estimate of $746.52 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that AllianceBernstein Holding L.P. will post $2.00 earnings per share for the current year.

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In other AllianceBernstein Holding L.P. news, Director Deborah S. Hechinger sold 10,380 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.02, for a total transaction of $218,187.60. Following the transaction, the director now owns 7,814 shares in the company, valued at $164,250.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James A. Gingrich sold 10,500 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $22.73, for a total transaction of $238,665.00. Following the transaction, the chief operating officer now owns 386,331 shares in the company, valued at approximately $8,781,303.63. The disclosure for this sale can be found here. Insiders sold 231,118 shares of company stock worth $5,030,312 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in AllianceBernstein Holding L.P. by 11.7% in the first quarter. Bank of America Corp DE now owns 1,512,976 shares of the asset manager’s stock worth $34,571,000 after buying an additional 159,069 shares during the period. Morgan Stanley boosted its position in AllianceBernstein Holding L.P. by 166.0% in the first quarter. Morgan Stanley now owns 1,258,872 shares of the asset manager’s stock worth $28,765,000 after buying an additional 785,538 shares during the period. UBS Group AG boosted its position in AllianceBernstein Holding L.P. by 107.5% in the first quarter. UBS Group AG now owns 408,841 shares of the asset manager’s stock worth $9,342,000 after buying an additional 211,845 shares during the period. Foresters Investment Management Company Inc. boosted its position in AllianceBernstein Holding L.P. by 0.4% in the first quarter. Foresters Investment Management Company Inc. now owns 383,600 shares of the asset manager’s stock worth $8,765,000 after buying an additional 1,500 shares during the period. Finally, Stifel Financial Corp boosted its position in AllianceBernstein Holding L.P. by 1.2% in the first quarter. Stifel Financial Corp now owns 237,007 shares of the asset manager’s stock worth $5,418,000 after buying an additional 2,756 shares during the period. Institutional investors and hedge funds own 22.49% of the company’s stock.

About AllianceBernstein Holding L.P.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

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