AllianceBernstein Holding L.P. $AB Stock: Lido Advisors LLC Raises Position

Lido Advisors LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 184.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,161 shares of the asset manager’s stock after buying an additional 122,727 shares during the quarter. Lido Advisors LLC’s holdings in AllianceBernstein were worth $6,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Almitas Capital LLC purchased a new position in AllianceBernstein during the second quarter valued at approximately $1,381,000. The Manufacturers Life Insurance Company acquired a new position in AllianceBernstein in the second quarter valued at approximately $1,908,000. Bank of America Corp DE purchased a new stake in AllianceBernstein in the 2nd quarter worth approximately $522,000. Kestra Advisory Services LLC boosted its position in AllianceBernstein by 114.6% in the 1st quarter. Kestra Advisory Services LLC now owns 74,211 shares of the asset manager’s stock worth $2,778,000 after purchasing an additional 39,636 shares in the last quarter. Finally, SMH Capital Advisors Inc. purchased a new stake in AllianceBernstein in the 2nd quarter worth approximately $395,000. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $33.61 on Friday. AllianceBernstein Holding L.P. has a one year low of $33.48 and a one year high of $44.11. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.29 and a beta of 0.74. The business’s 50 day moving average price is $35.25 and its 200 day moving average price is $37.28.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, October 27th. The asset manager reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $904.25 million for the quarter, compared to analyst estimates of $913.82 million. AllianceBernstein had a return on equity of 25.97% and a net margin of 6.47%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, analysts predict that AllianceBernstein Holding L.P. will post 3.45 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, November 6th. This represents a $3.52 annualized dividend and a dividend yield of 10.5%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.82. AllianceBernstein’s payout ratio is presently 104.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AB. TD Cowen dropped their price objective on shares of AllianceBernstein from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. Sanford C. Bernstein reissued a “hold” rating and set a $35.00 price target on shares of AllianceBernstein in a report on Wednesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of AllianceBernstein in a research report on Friday, October 30th. Finally, Barclays dropped their price objective on AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 14th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.50.

AllianceBernstein Company Profile

AllianceBernstein L.P. is a global investment management and research firm serving institutional and individual clients. Its offerings include active equity and fixed-income strategies, multi-asset solutions and alternative investments, as well as private wealth management services. The firm was formed in 2000 through the merger of Alliance Capital Management and Sanford C. Bernstein. Headquartered in Nashville, Tennessee, AllianceBernstein serves clients through offices and operations around the world.