Atria Wealth Solutions Inc. Invests $277,000 in AllianceBernstein Holding L.P. (NYSE:AB)

Atria Wealth Solutions Inc. purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,471 shares of the asset manager's stock, valued at approximately $277,000.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in AllianceBernstein in the 3rd quarter valued at about $31,000. FSA Wealth Management LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at approximately $36,000. Luken Investment Analytics LLC purchased a new position in shares of AllianceBernstein during the 4th quarter valued at approximately $37,000. Farther Finance Advisors LLC increased its stake in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock worth $50,000 after buying an additional 764 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 19.25% of the company's stock.

Analyst Ratings Changes

AB has been the subject of a number of research reports. Barclays decreased their price target on AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note 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. TD Cowen lowered AllianceBernstein from a "buy" rating to a "hold" rating and boosted their price target for the stock from $38.00 to $38.50 in a research report on Tuesday, February 25th. Finally, Evercore ISI upped their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, AllianceBernstein presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.75.

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AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded down $0.06 on Tuesday, reaching $38.05. The stock had a trading volume of 448,037 shares, compared to its average volume of 367,570. The stock has a market cap of $4.21 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 0.78 and a beta of 1.21. The business's 50-day moving average price is $37.47 and its two-hundred day moving average price is $36.34. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates 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 forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.04%. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, February 18th. AllianceBernstein's dividend payout ratio is presently 112.90%.

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.