AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by First Foundation Advisors

First Foundation Advisors decreased its position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,500 shares of the asset manager's stock after selling 36,150 shares during the period. First Foundation Advisors' holdings in AllianceBernstein were worth $909,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AB. Luken Investment Analytics LLC purchased a new stake in AllianceBernstein during the 4th quarter worth approximately $37,000. Summit Securities Group LLC purchased a new position in AllianceBernstein in the 4th quarter valued at $41,000. HHM Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein during the fourth quarter worth $61,000. PNC Financial Services Group Inc. lifted its stake in shares of AllianceBernstein by 19.8% in the fourth 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 acquired a new position in AllianceBernstein during the fourth quarter worth about $96,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays restated an "equal weight" rating and issued a $34.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 8th. Bank of America cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. Sanford C. Bernstein cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research note on Thursday, April 3rd. TD Cowen decreased their price target on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI cut their price objective on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $37.17.

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AllianceBernstein Trading Down 1.7 %

Shares of AllianceBernstein stock traded down $0.64 during trading hours on Tuesday, hitting $37.13. 378,567 shares of the company were exchanged, compared to its average volume of 441,019. The business has a 50-day moving average of $36.97 and a 200-day moving average of $36.94. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 0.78 and a beta of 0.97. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $41.37.

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

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.05 per share. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 11.31%. AllianceBernstein's payout ratio is presently 112.90%.

About AllianceBernstein

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.