1,634 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Bought by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC acquired a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,634 shares of the asset manager’s stock, valued at approximately $61,000.

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

AllianceBernstein Stock Performance

AB opened at $38.72 on Tuesday. The stock has a market capitalization of $4.46 billion, a PE ratio of 11.09, a P/E/G ratio of 0.81 and a beta of 1.20. AllianceBernstein Holding L.P. has a one year low of $30.57 and a one year high of $40.86. The business’s 50 day moving average price is $37.12 and its 200 day moving average price is $35.93.

Analysts Set New Price Targets

A number of research firms have commented on AB. Evercore ISI increased their price objective 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 reduced their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.40.

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.