AllianceBernstein Holding L.P. (NYSE:AB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “ALLIANCE CAP MANAGEMENT L.P. provides diversified investment management services, primarily to pension funds, endowments, foreign financial institutions, and to individual investors. “

Several other research analysts also recently weighed in on AB. Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. ValuEngine downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Finally, Sidoti assumed coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They issued a “buy” rating and a $28.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.25.

AllianceBernstein Holding L.P. (AB) opened at 23.25 on Tuesday. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15. The company has a market cap of $2.17 billion, a PE ratio of 10.68 and a beta of 1.56. The stock has a 50 day moving average of $24.23 and a 200 day moving average of $23.06.

AllianceBernstein Holding L.P. (NYSE:AB) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The company had revenue of $802.31 million for the quarter, compared to the consensus estimate of $771.88 million. During the same period last year, the business posted $0.39 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that AllianceBernstein Holding L.P. will post $2.07 EPS for the current fiscal year.

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In related news, COO James A. Gingrich sold 60,000 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $24.97, for a total value of $1,498,200.00. Following the sale, the chief operating officer now directly owns 255,581 shares in the company, valued at $6,381,857.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lorie A. Slutsky sold 9,759 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $22.63, for a total value of $220,846.17. Following the completion of the sale, the director now owns 10,407 shares in the company, valued at $235,510.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 613,680 shares of company stock worth $14,607,518. Company insiders own 2.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in AllianceBernstein Holding L.P. by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,207 shares of the asset manager’s stock worth $370,000 after buying an additional 541 shares during the last quarter. Symons Capital Management Inc. increased its stake in AllianceBernstein Holding L.P. by 2.9% in the second quarter. Symons Capital Management Inc. now owns 20,105 shares of the asset manager’s stock worth $476,000 after buying an additional 565 shares during the last quarter. Blue Fin Capital Inc. increased its stake in AllianceBernstein Holding L.P. by 2.3% in the second quarter. Blue Fin Capital Inc. now owns 26,383 shares of the asset manager’s stock worth $623,000 after buying an additional 600 shares during the last quarter. Sigma Planning Corp increased its stake in AllianceBernstein Holding L.P. by 4.0% in the second quarter. Sigma Planning Corp now owns 16,827 shares of the asset manager’s stock worth $398,000 after buying an additional 647 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in AllianceBernstein Holding L.P. by 2.9% in the first quarter. Pinnacle Associates Ltd. now owns 33,600 shares of the asset manager’s stock worth $768,000 after buying an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 19.41% of the company’s stock.

About AllianceBernstein Holding L.P.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

Analyst Recommendations for AllianceBernstein Holding L.P. (NYSE:AB)

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