Credit Suisse Releases a Hold Rating on AllianceBernsteinBy Carrie Williams
In a report released yesterday, Craig Siegenthaler from Credit Suisse maintained a Hold rating on AllianceBernstein (NYSE: AB), with a price target of $27. The company’s shares closed yesterday at $22.35.
According to TipRanks.com, Siegenthaler is a 4-star analyst with an average return of 4.0% and a 65.5% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Virtus Investment Partners, and Huntington Bancshares Inc.
Currently, the analyst consensus on AllianceBernstein is Hold and the average price target is $25.67, representing a 14.9% upside.
In a report issued on March 9, KBW also reiterated a Hold rating on the stock with a $26 price target.
AllianceBernstein’s market cap is currently $2.19B and has a P/E ratio of 9.89. The company has a book value ratio of 1.4026.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2016, Edward Farrell, the SVP & Controller of AB sold 5,000 shares for a total of $118,050.
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AllianceBernstein Holding LP engages in the provision of diversified, global investment management to institutional, high net-worth and retail clients. Its products involves mutual funds, hedge funds, investment trusts, separately managed accounts and other investment vehicle products. It also provides research, sub-advisory, portfolio strategy, brokerage services and a broad range of investment products and services to clients. The company was founded in October 2000 and is headquartered in New York, NY.