AllianceBernstein (NYSE:AB) Price Target Cut to $39.00

AllianceBernstein (NYSE:AB - Get Free Report) had its price target decreased by stock analysts at TD Cowen from $40.00 to $39.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the asset manager's stock. TD Cowen's target price suggests a potential upside of 14.55% from the stock's previous close.

Several other equities research analysts also recently issued reports on AB. Bank of America lowered their price target on AllianceBernstein from $54.00 to $51.00 and set a "buy" rating for the company in a report on Monday. TheStreet upgraded AllianceBernstein from a "c" rating to a "b-" rating in a report on Friday, March 8th. Finally, Evercore ISI restated a "buy" rating and issued a $38.00 price target on shares of AllianceBernstein in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.19.

AllianceBernstein Stock Up 1.4 %

NYSE AB traded up $0.48 on Monday, reaching $34.05. The company had a trading volume of 391,208 shares, compared to its average volume of 344,940. The stock's 50 day moving average is $33.63 and its 200-day moving average is $31.69. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.65 and a beta of 1.25. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $35.84.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, analysts forecast that AllianceBernstein will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. acquired a new position in AllianceBernstein during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new position in AllianceBernstein during the fourth quarter valued at approximately $27,000. FinTrust Capital Advisors LLC acquired a new position in AllianceBernstein during the third quarter valued at approximately $30,000. Register Financial Advisors LLC acquired a new position in AllianceBernstein during the first quarter valued at approximately $42,000. Finally, Cape Investment Advisory Inc. boosted its position in AllianceBernstein by 198.7% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager's stock valued at $44,000 after purchasing an additional 950 shares during the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

About AllianceBernstein

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.