AllianceBernstein (NYSE:AB) Sees Strong Trading Volume - Here's What Happened

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 1,127,543 shares traded hands during mid-day trading, an increase of 180% from the previous session's volume of 402,136 shares.The stock last traded at $38.03 and had previously closed at $38.12.

Wall Street Analysts Forecast Growth

AB has been the subject of several recent research reports. Barclays reduced their price target on AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a research note on Thursday, January 16th. Finally, TD Cowen downgraded shares of AllianceBernstein from a "buy" rating to a "hold" rating and increased their price target for the stock from $38.00 to $38.50 in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.75.

AllianceBernstein Stock Up 0.4 %

The firm has a market capitalization of $4.24 billion, a PE ratio of 10.32, a PEG ratio of 0.78 and a beta of 1.25. The stock has a 50-day moving average price of $37.70 and a 200 day moving average price of $36.67.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. As a group, equities analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

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AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.05 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a yield of 10.95%. AllianceBernstein's dividend payout ratio (DPR) is currently 112.90%.

Hedge Funds Weigh In On AllianceBernstein

A number of hedge funds have recently made changes to their positions in AB. FMR LLC increased its position in shares of AllianceBernstein by 19.0% during the fourth quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock worth $115,361,000 after purchasing an additional 496,923 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of AllianceBernstein by 1.1% during the fourth quarter. American Century Companies Inc. now owns 3,026,102 shares of the asset manager's stock worth $112,238,000 after buying an additional 33,888 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AllianceBernstein by 18.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager's stock valued at $107,552,000 after buying an additional 445,398 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of AllianceBernstein by 7.0% in the fourth quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager's stock worth $34,852,000 after buying an additional 61,326 shares in the last quarter. Finally, Natixis boosted its position in AllianceBernstein by 16.4% during the fourth quarter. Natixis now owns 660,700 shares of the asset manager's stock worth $24,505,000 after acquiring an additional 93,300 shares during the last quarter. Institutional investors and hedge funds 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.