Private Advisor Group LLC Raises Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Private Advisor Group LLC increased its stake in AllianceBernstein Holding L.P. (NYSE:ABGet Rating) by 6.0% during the 1st quarter, HoldingsChannel reports. The firm owned 47,628 shares of the asset manager’s stock after buying an additional 2,715 shares during the period. Private Advisor Group LLC’s holdings in AllianceBernstein were worth $2,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of AllianceBernstein by 14.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,528 shares of the asset manager’s stock valued at $319,000 after acquiring an additional 819 shares during the period. Northern Trust Corp bought a new position in shares of AllianceBernstein in the fourth quarter worth about $460,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of AllianceBernstein by 6.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 82,690 shares of the asset manager’s stock worth $4,039,000 after buying an additional 4,911 shares during the period. First Republic Investment Management Inc. raised its stake in shares of AllianceBernstein by 23.6% in the fourth quarter. First Republic Investment Management Inc. now owns 51,708 shares of the asset manager’s stock worth $2,525,000 after buying an additional 9,857 shares during the period. Finally, UMB Bank N A MO raised its stake in shares of AllianceBernstein by 23.3% in the fourth quarter. UMB Bank N A MO now owns 5,300 shares of the asset manager’s stock worth $259,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 11.63% of the company’s stock.

AllianceBernstein Stock Down 0.0 %

NYSE AB opened at $42.99 on Friday. The stock’s 50-day moving average price is $42.89 and its 200-day moving average price is $43.05. AllianceBernstein Holding L.P. has a 52 week low of $35.20 and a 52 week high of $57.54. The company has a market capitalization of $4.18 billion, a P/E ratio of 11.56 and a beta of 1.30.

AllianceBernstein (NYSE:ABGet Rating) last posted its quarterly earnings data on Friday, July 29th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. AllianceBernstein had a return on equity of 24.10% and a net margin of 8.30%. The firm had revenue of $971.40 million for the quarter. During the same period last year, the business earned $0.91 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that AllianceBernstein Holding L.P. will post 2.85 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Investors of record on Monday, August 8th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Friday, August 5th. AllianceBernstein’s dividend payout ratio is currently 76.34%.

Insider Buying and Selling

In related news, Director Charles G.T. Stonehill sold 1,400 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $40.61, for a total transaction of $56,854.00. Following the completion of the sale, the director now owns 19,914 shares in the company, valued at $808,707.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by company insiders.

About AllianceBernstein

(Get Rating)

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

Further Reading

Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:ABGet Rating).

Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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