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

Private Advisor Group LLC cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 13.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,869 shares of the asset manager’s stock after selling 6,894 shares during the period. Private Advisor Group LLC’s holdings in AllianceBernstein were worth $1,664,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in AllianceBernstein during the 3rd quarter worth $31,000. FSA Wealth Management LLC purchased a new position in AllianceBernstein in the 3rd quarter valued at about $36,000. Luken Investment Analytics LLC purchased a new position in AllianceBernstein in the 4th quarter valued at about $37,000. Farther Finance Advisors LLC boosted its position in AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after buying an additional 764 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in AllianceBernstein in the 4th quarter valued at about $61,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Down 0.3 %

AB opened at $37.56 on Thursday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.21. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The company’s 50-day moving average price is $37.33 and its 200 day moving average price is $36.23.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. Research analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 11.18%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is presently 112.90%.

Analyst Upgrades and Downgrades

AB has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Sanford C. Bernstein set a $45.00 price objective on shares of AllianceBernstein in a research report on Thursday, January 16th. Barclays decreased their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Finally, TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and upped their target price for the company from $38.00 to $38.50 in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

About AllianceBernstein

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.