Private Advisor Group LLC Has $1.43 Million Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Private Advisor Group LLC boosted its holdings in shares of AllianceBernstein Holding L.P. (NYSE:ABFree Report) by 591.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,065 shares of the asset manager’s stock after acquiring an additional 39,406 shares during the quarter. Private Advisor Group LLC’s holdings in AllianceBernstein were worth $1,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC bought a new stake in AllianceBernstein in the third quarter valued at approximately $85,508,000. TCG Advisory Services LLC raised its stake in AllianceBernstein by 2,811.0% during the fourth quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock worth $6,917,000 after buying an additional 215,270 shares during the last quarter. Nomura Holdings Inc. acquired a new position in AllianceBernstein in the third quarter valued at $4,328,000. International Assets Investment Management LLC bought a new stake in AllianceBernstein during the fourth quarter valued at $1,500,000. Finally, KMG Fiduciary Partners LLC acquired a new stake in AllianceBernstein during the 4th quarter worth about $1,244,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on AB. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. TD Cowen lowered their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Evercore ISI reissued a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th. Finally, Bank of America decreased 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, AllianceBernstein has a consensus rating of “Moderate Buy” and an average target price of $41.19.

Read Our Latest Stock Analysis on AllianceBernstein

AllianceBernstein Trading Up 2.8 %

NYSE AB opened at $33.56 on Wednesday. The company has a fifty day simple moving average of $33.64 and a 200 day simple moving average of $32.02. AllianceBernstein Holding L.P. has a 12-month low of $25.83 and a 12-month high of $35.84. The company has a market cap of $3.86 billion, a P/E ratio of 13.93, a PEG ratio of 0.75 and a beta of 1.25.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 8.70%. The ex-dividend date of this dividend is Friday, May 3rd. AllianceBernstein’s payout ratio is presently 121.16%.

AllianceBernstein Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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