Jennison Associates LLC Boosts Position in AllianceBernstein Holding L.P. (NYSE:AB)

Jennison Associates LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 939,649 shares of the asset manager's stock after purchasing an additional 61,326 shares during the period. Jennison Associates LLC owned 0.82% of AllianceBernstein worth $34,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. increased its stake in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock worth $25,000 after acquiring an additional 329 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of AllianceBernstein in the 3rd quarter worth about $31,000. Luken Investment Analytics LLC bought a new position in shares of AllianceBernstein in the 4th quarter worth about $37,000. FSA Wealth Management LLC bought a new position in shares of AllianceBernstein in the 3rd quarter worth about $36,000. Finally, Farther Finance Advisors LLC increased its stake in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock worth $50,000 after acquiring an additional 764 shares in the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

Shares of AB stock traded up $0.54 during trading hours on Friday, reaching $36.58. The company had a trading volume of 1,432,541 shares, compared to its average volume of 598,978. The business has a fifty day moving average price of $37.24 and a 200-day moving average price of $36.01. AllianceBernstein Holding L.P. has a one year low of $30.57 and a one year high of $41.37. The firm has a market cap of $4.21 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.77%. Equities research analysts forecast that AllianceBernstein Holding L.P. will post 3.48 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given 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 of this dividend is Tuesday, February 18th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.48%. AllianceBernstein's dividend payout ratio is currently 82.80%.

Analyst Ratings Changes

A number of research firms have weighed in on AB. Evercore ISI raised their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Barclays reduced 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.40.

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.