Manning & Napier Advisors LLC Has $6.68 Million Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Manning & Napier Advisors LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,000 shares of the asset manager’s stock after acquiring an additional 40,000 shares during the period. Manning & Napier Advisors LLC owned approximately 0.16% of AllianceBernstein worth $6,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AB. Gateway Wealth Partners LLC bought a new position in AllianceBernstein during the fourth quarter valued at about $226,000. Perigon Wealth Management LLC acquired a new stake in shares of AllianceBernstein during the 4th quarter worth approximately $290,000. Janney Montgomery Scott LLC increased its position in shares of AllianceBernstein by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 102,131 shares of the asset manager’s stock valued at $3,788,000 after purchasing an additional 4,422 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of AllianceBernstein in the fourth quarter valued at $203,000. Finally, Ameritas Advisory Services LLC lifted its position in AllianceBernstein by 3.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 24,119 shares of the asset manager’s stock worth $895,000 after purchasing an additional 766 shares during the period. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

AB opened at $39.53 on Thursday. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $40.86. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.81 and a beta of 1.20. The firm’s 50-day simple moving average is $36.90 and its 200-day simple moving average is $35.79.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays lowered their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.40.

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.