Trust Department MB Financial Bank N A held its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,000 shares of the asset manager’s stock at the end of the second quarter. Trust Department MB Financial Bank N A’s holdings in AllianceBernstein Holding L.P. were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AB. JPMorgan Chase & Co. raised its position in shares of AllianceBernstein Holding L.P. by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 44,807 shares of the asset manager’s stock worth $1,023,000 after buying an additional 5,025 shares during the period. HighTower Advisors LLC bought a new position in shares of AllianceBernstein Holding L.P. during the first quarter worth about $1,136,000. New England Research & Management Inc. raised its position in shares of AllianceBernstein Holding L.P. by 9.4% in the first quarter. New England Research & Management Inc. now owns 76,128 shares of the asset manager’s stock worth $1,740,000 after buying an additional 6,540 shares during the period. M&T Bank Corp raised its position in shares of AllianceBernstein Holding L.P. by 51.8% in the first quarter. M&T Bank Corp now owns 27,729 shares of the asset manager’s stock worth $634,000 after buying an additional 9,461 shares during the period. Finally, Creative Planning raised its position in shares of AllianceBernstein Holding L.P. by 6.8% in the first quarter. Creative Planning now owns 18,162 shares of the asset manager’s stock worth $415,000 after buying an additional 1,160 shares during the period. Institutional investors and hedge funds own 22.74% of the company’s stock.

Shares of AllianceBernstein Holding L.P. (NYSE:AB) remained flat at $24.30 during midday trading on Friday. 215,282 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $24.01 and its 200 day moving average is $22.98. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The stock has a market cap of $2.27 billion, a PE ratio of 11.16 and a beta of 1.56.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The company had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. During the same quarter last year, the business earned $0.39 earnings per share. AllianceBernstein Holding L.P.’s revenue was up 10.5% on a year-over-year basis. Analysts predict that AllianceBernstein Holding L.P. will post $2.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Monday, August 7th will be given a $0.49 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.07%. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is presently 89.91%.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/07/alliancebernstein-holding-l-p-nyseab-position-held-by-trust-department-mb-financial-bank-n-a-updated-updated-updated.html.

A number of equities analysts recently issued reports on AB shares. Bank of America Corporation raised shares of AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $25.00 in a research report on Wednesday, April 12th. Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, July 13th. Sidoti started coverage on shares of AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They set a “buy” rating and a $28.00 target price on the stock. ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods raised shares of AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a report on Wednesday, April 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. AllianceBernstein Holding L.P. has an average rating of “Buy” and a consensus target price of $26.50.

In related news, Director Lorie A. Slutsky sold 12,663 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $21.01, for a total value of $266,049.63. Following the transaction, the director now owns 20,166 shares in the company, valued at $423,687.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James A. Gingrich sold 7,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $24.85, for a total value of $173,950.00. Following the completion of the transaction, the chief operating officer now owns 220,159 shares in the company, valued at approximately $5,470,951.15. The disclosure for this sale can be found here. Insiders sold 559,125 shares of company stock worth $12,996,097 in the last 90 days. 3.40% of the stock is owned by company insiders.

About AllianceBernstein Holding L.P.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

Institutional Ownership by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

Receive News & Stock Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related stocks with our FREE daily email newsletter.