AllianceBernstein Holding L.P. (NYSE:AB) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

AB has been the topic of several other reports. Zacks Investment Research upgraded AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Keefe, Bruyette & Woods raised 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. Bank of America Corporation raised AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and raised their price target for the company from $24.00 to $25.00 in a research report on Wednesday, April 12th. ValuEngine downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Sidoti initiated coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They issued a “buy” rating and a $28.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. AllianceBernstein Holding L.P. presently has a consensus rating of “Buy” and a consensus price target of $26.60.

Shares of AllianceBernstein Holding L.P. (AB) traded down 0.20% during midday trading on Friday, hitting $24.50. The stock had a trading volume of 202,117 shares. AllianceBernstein Holding L.P. has a 1-year low of $20.40 and a 1-year high of $25.12. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 11.44 and a beta of 1.55. The firm has a 50-day moving average price of $22.43 and a 200-day moving average price of $22.81.

AllianceBernstein Holding L.P. (NYSE:AB) last posted its earnings results on Thursday, April 27th. The asset manager reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 18.31% and a net margin of 9.74%. The company had revenue of $764.92 million for the quarter, compared to analyst estimates of $746.52 million. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that AllianceBernstein Holding L.P. will post $2.03 EPS for the current fiscal year.

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In related news, SVP Edward J. Farrell sold 10,000 shares of AllianceBernstein Holding L.P. stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $23.15, for a total transaction of $231,500.00. Following the sale, the senior vice president now directly owns 29,147 shares of the company’s stock, valued at $674,753.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Deborah S. Hechinger sold 10,380 shares of AllianceBernstein Holding L.P. stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $21.02, for a total value of $218,187.60. Following the sale, the director now directly owns 7,814 shares in the company, valued at $164,250.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 392,118 shares of company stock worth $8,829,002. 3.40% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AB. Creative Planning increased its stake in AllianceBernstein Holding L.P. by 20.7% in the second quarter. Creative Planning now owns 21,915 shares of the asset manager’s stock worth $518,000 after buying an additional 3,753 shares during the period. Bank of Montreal Can increased its stake in AllianceBernstein Holding L.P. by 9,523.4% in the second quarter. Bank of Montreal Can now owns 444,600 shares of the asset manager’s stock worth $10,514,000 after buying an additional 439,980 shares during the period. HighTower Advisors LLC purchased a new stake in AllianceBernstein Holding L.P. during the first quarter worth $1,136,000. Bank of America Corp DE increased its stake 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. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in AllianceBernstein Holding L.P. during the first quarter worth $404,000. 22.46% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Holding L.P. Company Profile

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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