Invesco Ltd. Takes $8.31 Million Position in AllianceBernstein Holding L.P. (NYSE:AB)

Invesco Ltd. purchased a new position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 223,977 shares of the asset manager's stock, valued at approximately $8,307,000. Invesco Ltd. owned 0.19% of AllianceBernstein at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Luken Investment Analytics LLC bought a new position in shares of AllianceBernstein in the fourth quarter valued at approximately $37,000. Summit Securities Group LLC purchased a new position in shares of AllianceBernstein during the fourth quarter worth about $41,000. HHM Wealth Advisors LLC bought a new stake in AllianceBernstein during the fourth quarter valued at approximately $61,000. PNC Financial Services Group Inc. grew its stake in AllianceBernstein by 19.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager's stock worth $72,000 after buying an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of AllianceBernstein during the 4th quarter worth $96,000. Hedge funds and other institutional investors own 19.25% of the company's stock.

AllianceBernstein Price Performance

NYSE AB traded down $0.10 during midday trading on Friday, hitting $37.72. 144,039 shares of the company traded hands, compared to its average volume of 441,717. The company's 50-day simple moving average is $37.13 and its 200-day simple moving average is $37.07. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.37. The company has a market cap of $4.17 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $838.21 million during the quarter, compared to analyst estimates of $859.36 million. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. On average, research analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 5th will be paid a $0.80 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a yield of 8.48%. AllianceBernstein's dividend payout ratio (DPR) is 112.90%.

Analyst Ratings Changes

AB has been the subject of several research analyst reports. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $42.00 to $38.00 in a research note on Thursday, April 3rd. TD Cowen decreased their price target on shares of AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Sanford C. Bernstein cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price objective for the company. in a research note on Thursday, April 3rd. Evercore ISI decreased their target price on shares of AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Barclays raised their price objective on AllianceBernstein from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, AllianceBernstein currently has an average rating of "Hold" and an average price target of $37.67.

AllianceBernstein 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.