AllianceBernstein (NYSE:AB) had its price objective lifted by Citigroup from $36.00 to $37.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the asset manager’s stock.
A number of other equities research analysts also recently issued reports on AB. Zacks Investment Research raised shares of FirstService from a strong sell rating to a hold rating and set a $110.00 price objective for the company in a research report on Tuesday, June 25th. Goldman Sachs Group began coverage on shares of Taylor Wimpey in a research report on Wednesday, June 12th. They set a buy rating for the company.
Shares of AB stock opened at $30.49 on Tuesday. AllianceBernstein has a 52-week low of $23.34 and a 52-week high of $31.42. The stock has a 50-day moving average price of $29.05. The company has a market cap of $2.92 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21.
In other news, insider Kate C. Burke sold 18,897 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.75, for a total transaction of $543,288.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in AB. Commonwealth Equity Services LLC lifted its position in shares of AllianceBernstein by 18.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 60,821 shares of the asset manager’s stock worth $1,661,000 after buying an additional 9,383 shares during the last quarter. Advisor Group Inc. lifted its position in shares of AllianceBernstein by 7.0% in the fourth quarter. Advisor Group Inc. now owns 18,001 shares of the asset manager’s stock worth $491,000 after buying an additional 1,183 shares during the last quarter. Northern Trust Corp acquired a new stake in shares of AllianceBernstein in the fourth quarter worth about $235,000. Foresters Investment Management Company Inc. lifted its position in shares of AllianceBernstein by 12.1% in the fourth quarter. Foresters Investment Management Company Inc. now owns 626,650 shares of the asset manager’s stock worth $17,120,000 after buying an additional 67,750 shares during the last quarter. Finally, Chiron Investment Management LLC lifted its position in shares of AllianceBernstein by 14.0% in the fourth quarter. Chiron Investment Management LLC now owns 8,133 shares of the asset manager’s stock worth $222,000 after buying an additional 1,000 shares during the last quarter. 16.66% of the stock is owned by hedge funds and other institutional investors.
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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