Bridgecreek Investment Management LLC Lowers Stake in AllianceBernstein Holding LP (AB)

Bridgecreek Investment Management LLC lowered its holdings in AllianceBernstein Holding LP (NYSE:AB) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,825 shares of the asset manager’s stock after selling 7,950 shares during the period. Bridgecreek Investment Management LLC’s holdings in AllianceBernstein were worth $4,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of AllianceBernstein by 2.3% in the second quarter. FMR LLC now owns 680,041 shares of the asset manager’s stock valued at $16,083,000 after purchasing an additional 15,041 shares during the period. New England Research & Management Inc. raised its position in shares of AllianceBernstein by 6.0% in the fourth quarter. New England Research & Management Inc. now owns 79,278 shares of the asset manager’s stock valued at $1,986,000 after purchasing an additional 4,500 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of AllianceBernstein by 25.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,608 shares of the asset manager’s stock valued at $1,570,000 after purchasing an additional 12,961 shares during the period. California Public Employees Retirement System raised its position in shares of AllianceBernstein by 5.7% in the third quarter. California Public Employees Retirement System now owns 191,870 shares of the asset manager’s stock valued at $4,662,000 after purchasing an additional 10,270 shares during the period. Finally, Whalerock Point Partners LLC bought a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $368,000. 21.02% of the stock is currently owned by institutional investors.

Shares of AllianceBernstein Holding LP (NYSE AB) opened at $24.60 on Friday. The firm has a market cap of $2,396.83, a P/E ratio of 12.02, a P/E/G ratio of 1.25 and a beta of 1.51. AllianceBernstein Holding LP has a twelve month low of $20.40 and a twelve month high of $28.00.

In related news, insider Axa Equitable Holdings, Inc. purchased 124,983 shares of the business’s stock in a transaction on Friday, December 15th. The stock was acquired at an average price of $24.95 per share, with a total value of $3,118,325.85. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Edward J. Farrell sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $25.20, for a total transaction of $252,000.00. Following the completion of the transaction, the senior vice president now directly owns 19,147 shares of the company’s stock, valued at approximately $482,504.40. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several research firms have recently issued reports on AB. Zacks Investment Research raised shares of AllianceBernstein from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, December 19th. ValuEngine lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Citigroup raised shares of AllianceBernstein from a “neutral” rating to a “buy” rating and upped their target price for the stock from $26.00 to $31.00 in a report on Thursday, October 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.00.

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AllianceBernstein Company Profile

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.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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