AllianceBernstein Holding L.P. (NYSE:AB) Sees Large Increase in Short Interest

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 997,200 shares, an increase of 12.3% from the December 15th total of 887,900 shares. Based on an average daily trading volume, of 364,500 shares, the days-to-cover ratio is presently 2.7 days.

AllianceBernstein Price Performance

NYSE AB traded up $1.45 on Friday, hitting $38.22. 621,566 shares of the stock were exchanged, compared to its average volume of 395,595. The company has a market capitalization of $4.40 billion, a PE ratio of 10.95, a P/E/G ratio of 0.69 and a beta of 1.20. The business's fifty day moving average is $36.37 and its 200 day moving average is $35.46. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were paid a dividend of $0.77 per share. This is an increase from AllianceBernstein's previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.06%. The ex-dividend date was Monday, November 4th. AllianceBernstein's payout ratio is currently 88.25%.

Wall Street Analysts Forecast Growth

AB has been the topic of a number of recent research reports. Barclays lowered their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, December 9th. The Goldman Sachs Group boosted their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Finally, Evercore ISI raised their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, AllianceBernstein presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Institutional Investors Weigh In On AllianceBernstein

A number of large investors have recently added to or reduced their stakes in AB. FMR LLC raised its holdings in AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager's stock valued at $91,181,000 after acquiring an additional 154,039 shares during the period. JPMorgan Chase & Co. grew its position in shares of AllianceBernstein by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager's stock valued at $85,633,000 after purchasing an additional 265,844 shares during the last quarter. Jennison Associates LLC increased its stake in shares of AllianceBernstein by 12.2% during the third quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager's stock worth $30,645,000 after purchasing an additional 95,847 shares during the period. Citigroup Inc. lifted its holdings in AllianceBernstein by 59.1% during the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager's stock worth $22,528,000 after purchasing an additional 239,941 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in AllianceBernstein by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 413,165 shares of the asset manager's stock valued at $14,919,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 19.25% of the company's stock.

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.

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