Shares of AllianceBernstein Holding L.P. Units (AB) Rise Above Previous 52-Week High

IBN Spotlights
Thursday, October 21, 2021 at 4:32pm UTC

AllianceBernstein Holding L.P. Units (NYSE:AB) traded today at a new 52-week high of $54.20. This new high was reached on below average trading volume as 114,000 shares traded hands, while the average 30-day volume is approximately 236,000 shares.

AllianceBernstein provides investment management services to institutional (45% of assets under management), retail (40%), and private (15%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of June 2021, AB had $738.4 billion in managed assets, composed primarily of fixed-income (45% of AUM) and equity (43%) strategies, with other investments (made up of asset allocation services and certain other alternative investments) accounting for the remainder. The company also provides sell-side research and brokerage services through its Sanford Bernstein subsidiary.

AllianceBernstein Holding L.P. Units share prices have moved between a 52-week high of $54.20 and a 52-week low of $28.61 and are now trading 89% above that low price at $54.07 per share.

AllianceBernstein Holding L.P. Units (NYSE:AB) defies analysts with a current price ($54.07) 16.2% above its average consensus price target of $45.32.

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