AllianceBernstein Holding L.P. (NYSE:AB) Shares Purchased by Private Portfolio Partners LLC

Private Portfolio Partners LLC lifted its position in AllianceBernstein Holding L.P. (NYSE:AB) by 56.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,359 shares of the asset manager’s stock after acquiring an additional 6,609 shares during the quarter. Private Portfolio Partners LLC’s holdings in AllianceBernstein were worth $681,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC increased its holdings in AllianceBernstein by 2.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock valued at $10,683,000 after purchasing an additional 7,071 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at $290,000. Atria Wealth Solutions Inc. acquired a new position in shares of AllianceBernstein during the 4th quarter worth approximately $277,000. Horizon Kinetics Asset Management LLC raised its holdings in AllianceBernstein by 175.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock valued at $2,644,000 after acquiring an additional 45,413 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of AllianceBernstein during the fourth quarter worth $264,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AB. TD Cowen downgraded shares of AllianceBernstein from a “buy” rating to a “hold” rating and upped their price target for the stock from $38.00 to $38.50 in a report on Tuesday, February 25th. Barclays decreased their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 price target on shares of AllianceBernstein in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.75.

AllianceBernstein Stock Up 0.3 %

AB opened at $38.43 on Wednesday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.78 and a beta of 1.25. The firm has a 50 day moving average price of $37.82 and a 200-day moving average price of $36.86. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37.

AllianceBernstein (NYSE:AB) last issued its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.05 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a yield of 10.93%. The ex-dividend date of this dividend was Tuesday, February 18th. AllianceBernstein’s payout ratio is currently 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.