AllianceBernstein Holding L.P. (NYSE:AB) Holdings Cut by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA decreased its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,125 shares of the asset manager’s stock after selling 1,200 shares during the period. Beach Investment Counsel Inc. PA’s holdings in AllianceBernstein were worth $450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AB. JPMorgan Chase & Co. raised its position in AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after acquiring an additional 265,844 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of AllianceBernstein by 1,019.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock worth $9,803,000 after buying an additional 255,868 shares during the period. Citigroup Inc. boosted its holdings in AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after acquiring an additional 239,941 shares during the period. FMR LLC increased its stake in shares of AllianceBernstein by 6.3% in the third quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock worth $91,181,000 after purchasing an additional 154,039 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of AllianceBernstein by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock worth $30,645,000 after purchasing an additional 95,847 shares during the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI lifted their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays dropped their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Stock Up 0.5 %

AB stock opened at $38.94 on Tuesday. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $40.86. The company has a market cap of $4.48 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21. The business’s fifty day moving average is $37.12 and its 200-day moving average is $35.93.

AllianceBernstein 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.