KBW Maintains MP Rating, $24 PT On Shares Of AB

AllianceBernstein Holding L.P. AB reported March-ending AUM of $477bn, down 2% from the prior quarter, KBW reports. “We estimate that outflows may have been around $7bn or so in March, mainly from institutional equity products,” KBW writes. “Lower EPU estimates to reflect lower than previously forecast AUM. No change to price target or Market Perform rating.” AllianceBernstein closed Monday at $21.93.