AllianceBernstein (NYSE:AB) Sees Strong Trading Volume – Here’s Why

AllianceBernstein Holding L.P. (NYSE:AB) saw strong trading volume on Monday . 236,798 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 244,478 shares.The stock last traded at $39.8450 and had previously closed at $38.96.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Zacks Research downgraded shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. TD Cowen reiterated a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Sanford C. Bernstein restated a “negative” rating on shares of AllianceBernstein in a report on Thursday, January 15th. Finally, Barclays dropped their target price on AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AllianceBernstein has an average rating of “Hold” and an average target price of $41.83.

AllianceBernstein Stock Up 1.1%

The stock has a fifty day moving average of $39.97 and a two-hundred day moving average of $39.75. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.21 and a beta of 0.86.

Institutional Trading of AllianceBernstein

Institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont purchased a new stake in AllianceBernstein during the third quarter worth approximately $115,000. CWM LLC raised its stake in shares of AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock valued at $116,000 after acquiring an additional 2,957 shares during the period. Bessemer Group Inc. acquired a new position in shares of AllianceBernstein during the 2nd quarter valued at $163,000. Tyche Wealth Partners LLC purchased a new stake in AllianceBernstein during the 2nd quarter worth $204,000. Finally, Joel Adams & Associates Inc. acquired a new stake in AllianceBernstein in the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.