AllianceBernstein (NYSE:AB) Receives "Buy" Rating from TD Cowen

AllianceBernstein (NYSE:AB - Get Free Report)'s stock had its "buy" rating reissued by analysts at TD Cowen in a report released on Tuesday, Stock Target Advisor reports. They currently have a $40.00 price target on the asset manager's stock. TD Cowen's price target would suggest a potential upside of 15.77% from the company's current price.

A number of other brokerages also recently issued reports on AB. TheStreet upgraded AllianceBernstein from a "c" rating to a "b-" rating in a research report on Friday, March 8th. Evercore ISI restated a "buy" rating and set a $38.00 price objective on shares of AllianceBernstein in a research report on Tuesday, March 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.44.

AllianceBernstein Trading Down 1.2 %

Shares of AB stock traded down $0.43 during trading hours on Tuesday, hitting $34.55. 211,416 shares of the company were exchanged, compared to its average volume of 348,982. AllianceBernstein has a 52-week low of $25.83 and a 52-week high of $37.00. The firm has a fifty day simple moving average of $33.69 and a 200 day simple moving average of $31.47. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.66 and a beta of 1.25.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $857.85 million. AllianceBernstein had a return on equity of 14.88% and a net margin of 6.36%. The business's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Sell-side analysts anticipate that AllianceBernstein will post 3.04 EPS for the current year.

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors have recently bought and sold shares of AB. Principal Securities Inc. bought a new stake in AllianceBernstein in the 4th quarter worth $26,000. GAMMA Investing LLC purchased a new position in AllianceBernstein during the 4th quarter valued at about $27,000. Cowa LLC bought a new position in AllianceBernstein during the 1st quarter valued at approximately $27,000. FinTrust Capital Advisors LLC purchased a new stake in AllianceBernstein in the 3rd quarter worth approximately $30,000. Finally, Barclays PLC bought a new stake in shares of AllianceBernstein in the 2nd quarter worth approximately $38,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

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.