Horizon Kinetics Asset Management LLC Grows Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Horizon Kinetics Asset Management LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 175.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,287 shares of the asset manager's stock after buying an additional 45,413 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.06% of AllianceBernstein worth $2,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in AllianceBernstein by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager's stock valued at $30,645,000 after acquiring an additional 95,847 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of AllianceBernstein by 2.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager's stock worth $10,683,000 after purchasing an additional 7,071 shares during the last quarter. Citigroup Inc. lifted its position in shares of AllianceBernstein by 59.1% in the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager's stock worth $22,528,000 after buying an additional 239,941 shares in the last quarter. Perigon Wealth Management LLC bought a new position in AllianceBernstein during the fourth quarter valued at approximately $290,000. Finally, Atria Wealth Solutions Inc. bought a new position in AllianceBernstein during the fourth quarter valued at approximately $277,000. Institutional investors own 19.25% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AB shares. TD Cowen lowered shares of AllianceBernstein from a "buy" rating to a "hold" rating and raised their target price for the company from $38.00 to $38.50 in a report on Tuesday, February 25th. Barclays dropped their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.75.

AllianceBernstein Trading Down 0.3 %

NYSE:AB traded down $0.12 during midday trading on Friday, hitting $38.01. 1,452,372 shares of the company traded hands, compared to its average volume of 403,372. The firm has a market capitalization of $4.20 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.78 and a beta of 1.25. The firm's fifty day moving average is $37.60 and its 200-day moving average is $36.57. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $41.37.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating 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%. On average, research analysts expect that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.20 annualized dividend and a yield of 11.05%. This is an increase from AllianceBernstein's previous quarterly dividend of $0.77. AllianceBernstein's dividend payout ratio (DPR) 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.