Corient Private Wealth LLC Acquires 1,630 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Corient Private Wealth LLC boosted its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,880 shares of the asset manager’s stock after buying an additional 1,630 shares during the quarter. Corient Private Wealth LLC’s holdings in AllianceBernstein were worth $774,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new stake in AllianceBernstein in the third quarter worth $31,000. The Manufacturers Life Insurance Company increased its holdings in AllianceBernstein by 20.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 330,868 shares of the asset manager’s stock worth $11,544,000 after acquiring an additional 57,173 shares during the last quarter. FMR LLC raised its stake in AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock valued at $91,181,000 after acquiring an additional 154,039 shares during the period. BNP Paribas Financial Markets lifted its holdings in AllianceBernstein by 11.9% during the third quarter. BNP Paribas Financial Markets now owns 31,329 shares of the asset manager’s stock valued at $1,093,000 after purchasing an additional 3,339 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after purchasing an additional 355 shares during the period. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and boosted their price target for the company from $38.00 to $38.50 in a research report on Tuesday, February 25th. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 price target on AllianceBernstein in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.75.

AllianceBernstein Trading Up 0.0 %

AllianceBernstein stock opened at $38.36 on Friday. The firm’s 50 day simple moving average is $37.84 and its 200 day simple moving average is $36.73. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.37. The firm has a market capitalization of $4.24 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25.

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

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 10.95%. AllianceBernstein’s payout ratio is presently 112.90%.

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.