GAMMA Investing LLC Takes $27,000 Position in AllianceBernstein Holding L.P. (NYSE:AB)

GAMMA Investing LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 800 shares of the asset manager’s stock, valued at approximately $27,000.

Several other large investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in shares of AllianceBernstein by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 127,211 shares of the asset manager’s stock worth $3,861,000 after buying an additional 4,482 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in AllianceBernstein by 6.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 148,920 shares of the asset manager’s stock worth $4,520,000 after acquiring an additional 9,309 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in AllianceBernstein by 28.0% during the third quarter. Stratos Wealth Partners LTD. now owns 11,832 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 2,588 shares during the period. Verus Capital Partners LLC lifted its stake in shares of AllianceBernstein by 15.9% in the 3rd quarter. Verus Capital Partners LLC now owns 14,261 shares of the asset manager’s stock valued at $433,000 after purchasing an additional 1,959 shares during the last quarter. Finally, MGO One Seven LLC boosted its holdings in shares of AllianceBernstein by 27.6% in the 3rd quarter. MGO One Seven LLC now owns 13,232 shares of the asset manager’s stock worth $402,000 after purchasing an additional 2,862 shares during the period. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Down 0.1 %

NYSE AB opened at $33.12 on Tuesday. The stock has a market cap of $3.81 billion, a PE ratio of 13.74, a PEG ratio of 0.76 and a beta of 1.25. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $35.84. The company’s 50-day moving average price is $33.66 and its 200-day moving average price is $31.85.

AllianceBernstein (NYSE:AB) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. As a group, sell-side analysts forecast that AllianceBernstein Holding L.P. will post 2.96 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is presently 121.16%.

Analyst Ratings Changes

Several analysts recently weighed in on AB shares. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. Bank of America dropped their price target on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, April 29th. TD Cowen reduced their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Evercore ISI restated a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.19.

AllianceBernstein Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.