Independent Advisor Alliance Has $353,000 Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Independent Advisor Alliance grew its position in AllianceBernstein Holding L.P. (NYSE:AB) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,518 shares of the asset manager’s stock after buying an additional 630 shares during the period. Independent Advisor Alliance’s holdings in AllianceBernstein were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at $36,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein in the 4th quarter valued at $37,000. HHM Wealth Advisors LLC acquired a new position in shares of AllianceBernstein in the 4th quarter valued at $61,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of AllianceBernstein by 19.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager’s stock valued at $72,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Trading Up 0.5 %

AB opened at $37.81 on Wednesday. The stock has a market capitalization of $4.18 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.78 and a beta of 1.25. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.37. The firm’s fifty day simple moving average is $37.55 and its 200 day simple moving average is $36.55.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS 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%. On average, equities research analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a yield of 11.11%. AllianceBernstein’s payout ratio is 112.90%.

Analyst Upgrades and Downgrades

Several equities 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 report on Tuesday, February 25th. Barclays cut their price objective on shares of 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 objective on shares of 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.