MONECO Advisors LLC Acquires Shares of 10,802 AllianceBernstein Holding L.P. (NYSE:AB)

MONECO Advisors LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,802 shares of the asset manager’s stock, valued at approximately $401,000.

Several other large investors have also modified their holdings of AB. 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. Farther Finance Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of AllianceBernstein in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a report on Thursday, January 16th. Barclays decreased their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, Evercore ISI increased their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.83.

AllianceBernstein Price Performance

Shares of NYSE:AB opened at $37.59 on Tuesday. The stock has a market cap of $4.16 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 1.21. The firm has a fifty day moving average price of $37.29 and a 200 day moving average price of $36.20. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.37.

AllianceBernstein (NYSE:AB) last released its 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%. Sell-side analysts expect that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 11.17%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio (DPR) is 112.90%.

AllianceBernstein Company 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.