HUB Investment Partners LLC Sells 10,301 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

HUB Investment Partners LLC decreased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,246 shares of the asset manager’s stock after selling 10,301 shares during the period. HUB Investment Partners LLC’s holdings in AllianceBernstein were worth $7,946,000 at the end of the most recent reporting period.

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

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $38.08 on Thursday. AllianceBernstein Holding L.P. has a one year low of $30.57 and a one year high of $41.37. The stock’s fifty day moving average is $37.57 and its 200 day moving average is $36.56. The stock has a market cap of $4.21 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.78 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current 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 paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 11.03%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio is presently 112.90%.

Wall Street Analyst Weigh In

Several analysts have commented on AB shares. Sanford C. Bernstein set a $45.00 target price on AllianceBernstein in a research note on Thursday, January 16th. Barclays cut their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Finally, TD Cowen cut AllianceBernstein from a “buy” rating to a “hold” rating and increased their price target for the company from $38.00 to $38.50 in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, AllianceBernstein presently has an average rating of “Moderate Buy” and an average price target of $42.75.

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.