1,000 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Bought by Luken Investment Analytics LLC

Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,000 shares of the asset manager’s stock, valued at approximately $37,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock worth $85,633,000 after purchasing an additional 265,844 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of AllianceBernstein by 1,019.7% during 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. boosted its position in shares of AllianceBernstein by 59.1% in the 3rd 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 during the period. The Manufacturers Life Insurance Company grew its position in shares of AllianceBernstein by 426.8% during the second quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock worth $9,248,000 after acquiring an additional 221,736 shares during the last quarter. Finally, FMR LLC raised its holdings 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 valued at $91,181,000 after buying an additional 154,039 shares during the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Up 1.0 %

AB stock opened at $39.84 on Friday. The company has a market capitalization of $4.59 billion, a P/E ratio of 11.42, a PEG ratio of 0.81 and a beta of 1.20. The firm has a 50 day simple moving average of $36.96 and a 200-day simple moving average of $35.82. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $40.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AB shares. Barclays cut their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Evercore ISI raised their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.