TD Cowen Lowers AllianceBernstein (NYSE:AB) Price Target to $39.00

AllianceBernstein (NYSE:AB) had its price objective dropped by investment analysts at TD Cowen from $40.00 to $39.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target indicates a potential upside of 16.49% from the company’s current price.

AB has been the subject of a number of other reports. Bank of America decreased their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a report on Monday. Evercore ISI reissued a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a report on Tuesday, March 12th. Finally, TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.19.

AllianceBernstein Stock Performance

Shares of NYSE AB opened at $33.48 on Monday. The company has a market cap of $3.83 billion, a PE ratio of 13.89, a P/E/G ratio of 0.65 and a beta of 1.25. The business has a 50-day simple moving average of $33.68 and a two-hundred day simple moving average of $31.74. AllianceBernstein has a fifty-two week low of $25.83 and a fifty-two week high of $35.84.

AllianceBernstein (NYSE:AB) last released its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.

Institutional Trading of AllianceBernstein

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in AllianceBernstein in the 4th quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of AllianceBernstein in the 4th quarter valued at $26,000. FinTrust Capital Advisors LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at $30,000. Register Financial Advisors LLC acquired a new position in shares of AllianceBernstein in the 1st quarter valued at $42,000. Finally, Cape Investment Advisory Inc. lifted its stake in shares of AllianceBernstein by 198.7% in the 4th 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 currently owned by hedge funds and other institutional investors.

AllianceBernstein Company 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.