Beach Investment Counsel Inc. PA Has $450,000 Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Beach Investment Counsel Inc. PA decreased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,125 shares of the asset manager’s stock after selling 1,200 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in AllianceBernstein were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AB. Creative Planning increased its position in shares of AllianceBernstein by 21.5% in the second quarter. Creative Planning now owns 14,536 shares of the asset manager’s stock valued at $491,000 after acquiring an additional 2,569 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in AllianceBernstein by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,449 shares of the asset manager’s stock valued at $590,000 after acquiring an additional 1,150 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of AllianceBernstein by 1.4% during the 2nd quarter. Cetera Investment Advisers now owns 128,951 shares of the asset manager’s stock worth $4,357,000 after purchasing an additional 1,731 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in AllianceBernstein in the 2nd quarter valued at about $622,000. Finally, Axiom Advisory LLC bought a new position in AllianceBernstein during the third quarter worth about $272,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

AB stock opened at $38.94 on Tuesday. The business’s fifty day moving average price is $37.12 and its two-hundred day moving average price is $35.93. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.81 and a beta of 1.21. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $40.86.

Wall Street Analyst Weigh In

Several analysts have issued reports on AB shares. Barclays dropped their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Evercore ISI raised their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

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.