Jefferies Reiterates Their Hold Rating on AllianceBernstein

By Jason Carr

In a report released today, Gerald O’Hara from Jefferies reiterated a Hold rating on AllianceBernstein (NYSE: AB), with a price target of $21. The company’s shares closed yesterday at $23.25.

According to TipRanks.com, O’Hara is a 5-star analyst with an average return of 34.5% and a 92.3% success rate. O’Hara covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and WisdomTree Investments.

AllianceBernstein has an analyst consensus of Moderate Buy, with a price target consensus of $24.

Based on AllianceBernstein’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and quarterly net profit of $43.91 million. In comparison, last year the company earned revenue of $0 and had a net profit of $55.55 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is neutral on the stock. Last month, Lorie Slutsky, a Director at AB sold 12,663 shares for a total of $266,050.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.