Jaffetilchin Investment Partners LLC raised its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 1,268.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,220 shares of the asset manager's stock after buying an additional 9,473 shares during the period. Jaffetilchin Investment Partners LLC's holdings in AllianceBernstein were worth $379,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in AllianceBernstein during the fourth quarter worth $6,683,000. Advisory Services Network LLC boosted its stake in shares of AllianceBernstein by 17.7% during the 4th quarter. Advisory Services Network LLC now owns 12,474 shares of the asset manager's stock worth $463,000 after acquiring an additional 1,873 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of AllianceBernstein during the 4th quarter valued at about $8,307,000. FMR LLC increased its stake in shares of AllianceBernstein by 19.0% in the 4th quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after purchasing an additional 496,923 shares in the last quarter. Finally, Aristides Capital LLC raised its holdings in AllianceBernstein by 12.1% in the 4th quarter. Aristides Capital LLC now owns 40,920 shares of the asset manager's stock worth $1,518,000 after purchasing an additional 4,420 shares during the period. Hedge funds and other institutional investors own 19.25% of the company's stock.
AllianceBernstein Price Performance
Shares of NYSE:AB traded down $0.64 during midday trading on Tuesday, hitting $37.13. The company had a trading volume of 378,569 shares, compared to its average volume of 441,519. The business's 50-day simple moving average is $36.99 and its 200-day simple moving average is $36.94. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37.
AllianceBernstein (NYSE:AB - Get Free Report) last posted 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 return on equity of 17.88% and a net margin of 9.46%. As a group, sell-side analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.
AllianceBernstein Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.31%. This is an increase from AllianceBernstein's previous quarterly dividend of $0.77. AllianceBernstein's dividend payout ratio (DPR) is currently 112.90%.
Analysts Set New Price Targets
A number of analysts have recently commented on AB shares. TD Cowen cut their price objective on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Bank of America cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and reduced 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 target price for the company. in a research note on Thursday, April 3rd. Barclays restated an "equal weight" rating and set a $34.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 8th. 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 note on Friday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.17.
View Our Latest Research Report on AB
AllianceBernstein Profile
(
Free Report)
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.
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