Jennison Associates LLC Buys 61,326 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Jennison Associates LLC increased its position in AllianceBernstein Holding L.P. (NYSE:AB) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,649 shares of the asset manager’s stock after purchasing an additional 61,326 shares during the period. Jennison Associates LLC owned approximately 0.82% of AllianceBernstein worth $34,852,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AB. JPMorgan Chase & Co. raised its holdings in AllianceBernstein by 12.1% in the 3rd 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 raised its stake in shares of AllianceBernstein by 1,019.7% in the third quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock worth $9,803,000 after purchasing an additional 255,868 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of 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 purchasing an additional 239,941 shares in the last quarter. FMR LLC boosted its position 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 valued at $91,181,000 after buying an additional 154,039 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in AllianceBernstein in the 3rd quarter worth about $31,650,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Up 0.6 %

Shares of NYSE:AB opened at $39.00 on Wednesday. The firm’s 50 day moving average price is $37.19 and its 200-day moving average price is $35.97. The stock has a market capitalization of $4.49 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $40.86.

Analyst Ratings Changes

A number of analysts have recently issued reports on AB shares. Barclays dropped their price target 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. Evercore ISI boosted their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.