AllianceBernstein Holding L.P. $AB Position Lifted by D.A. Davidson & CO.

D.A. Davidson & CO. grew its position in AllianceBernstein Holding L.P. (NYSE:AB) by 15.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 184,533 shares of the asset manager’s stock after purchasing an additional 24,501 shares during the quarter. D.A. Davidson & CO.’s holdings in AllianceBernstein were worth $6,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AB. Concurrent Investment Advisors LLC grew its stake in AllianceBernstein by 2.4% in the second quarter. Concurrent Investment Advisors LLC now owns 16,971 shares of the asset manager’s stock valued at $598,000 after acquiring an additional 395 shares during the period. Vivaldi Capital Management LP lifted its stake in AllianceBernstein by 4.8% in the first quarter. Vivaldi Capital Management LP now owns 9,048 shares of the asset manager’s stock valued at $339,000 after buying an additional 418 shares in the last quarter. Jeppson Wealth Management LLC lifted its stake in AllianceBernstein by 5.6% in the second quarter. Jeppson Wealth Management LLC now owns 8,553 shares of the asset manager’s stock valued at $301,000 after buying an additional 450 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of AllianceBernstein by 4.4% in the third quarter. Integrated Advisors Network LLC now owns 11,859 shares of the asset manager’s stock valued at $414,000 after buying an additional 500 shares during the period. Finally, Mountain Hill Investment Partners Corp. boosted its holdings in shares of AllianceBernstein by 50.0% in the third quarter. Mountain Hill Investment Partners Corp. now owns 1,500 shares of the asset manager’s stock valued at $52,000 after buying an additional 500 shares during the period. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Price Performance

AB stock opened at $35.12 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.79. The company has a fifty day moving average price of $35.65 and a two-hundred day moving average price of $37.52. AllianceBernstein Holding L.P. has a one year low of $33.90 and a one year high of $44.11.

AllianceBernstein (NYSE:AB) last announced its earnings results on Tuesday, October 27th. The asset manager reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $904.25 million during the quarter, compared to the consensus estimate of $913.82 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 25.75%. AllianceBernstein’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Research analysts anticipate that AllianceBernstein Holding L.P. will post 3.45 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 10.0%. The ex-dividend date is Friday, November 6th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.82. AllianceBernstein’s dividend payout ratio (DPR) is 97.04%.

Insider Activity

In related news, Director Charles Stonehill sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $37.17, for a total value of $185,850.00. Following the transaction, the director directly owned 24,573 shares in the company, valued at approximately $913,378.41. This represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AB. TD Cowen cut their price target on AllianceBernstein from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday. Weiss Ratings lowered AllianceBernstein from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Barclays cut their target price on AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. Sanford C. Bernstein reaffirmed a “hold” rating and set a $35.00 price target on shares of AllianceBernstein in a research note on Wednesday. Finally, Evercore set a $39.00 price target on shares of AllianceBernstein in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, AllianceBernstein currently has a consensus rating of “Hold” and a consensus target price of $36.50.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. (NYSE:AB) is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.