HUB Investment Partners LLC Decreases Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

HUB Investment Partners LLC reduced its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,246 shares of the asset manager's stock after selling 10,301 shares during the quarter. HUB Investment Partners LLC owned approximately 0.19% of AllianceBernstein worth $7,946,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in shares of AllianceBernstein in the 3rd quarter valued at approximately $492,000. Jennison Associates LLC raised its holdings in AllianceBernstein by 12.2% in 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 in the last quarter. Citigroup Inc. lifted its position in AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager's stock valued at $22,528,000 after buying an additional 239,941 shares during the period. Truvestments Capital LLC purchased a new position in AllianceBernstein during the third quarter valued at $31,000. Finally, Horizon Kinetics Asset Management LLC bought a new stake in shares of AllianceBernstein during the 3rd quarter valued at $903,000. 19.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AB. Barclays decreased their price target 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. TD Cowen lowered shares of AllianceBernstein from a "buy" rating to a "hold" rating and lifted their target price for the company from $38.00 to $38.50 in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein set a $45.00 price target on AllianceBernstein in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.75.

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AllianceBernstein Stock Performance

Shares of NYSE:AB traded up $0.15 during trading on Monday, reaching $38.18. 2,132,761 shares of the stock traded hands, compared to its average volume of 410,842. The stock has a market cap of $4.22 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. The stock has a 50-day moving average of $37.65 and a two-hundred day moving average of $36.63. AllianceBernstein Holding L.P. has a 52-week low of $30.57 and a 52-week high of $41.37.

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

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 annualized dividend and a yield of 11.00%. This is a boost from AllianceBernstein's previous quarterly dividend of $0.77. AllianceBernstein's dividend payout ratio is currently 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.