AllianceBernstein Holding L.P. (NYSE:AB) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,899,762 shares of the asset manager's stock after purchasing an additional 445,398 shares during the quarter. JPMorgan Chase & Co. owned about 2.52% of AllianceBernstein worth $107,552,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Luken Investment Analytics LLC acquired a new stake in AllianceBernstein during the 4th quarter worth approximately $37,000. HHM Wealth Advisors LLC purchased a new stake in AllianceBernstein during the fourth quarter worth approximately $61,000. PNC Financial Services Group Inc. raised its stake in shares of AllianceBernstein by 19.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager's stock valued at $72,000 after acquiring an additional 319 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of AllianceBernstein in the 4th quarter valued at $96,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of AllianceBernstein by 143.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,710 shares of the asset manager's stock valued at $101,000 after acquiring an additional 1,597 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 down $2.08 during mid-day trading on Monday, reaching $34.10. 1,378,796 shares of the company were exchanged, compared to its average volume of 436,003. The business's 50 day simple moving average is $37.54 and its 200 day simple moving average is $36.92. The company has a market capitalization of $3.77 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.78 and a beta of 0.97. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37.

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AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping 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, analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.05 dividend. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a yield of 12.32%. The ex-dividend date of this dividend was Tuesday, February 18th. AllianceBernstein's payout ratio is currently 112.90%.

Wall Street Analysts Forecast Growth

AB has been the topic of several research reports. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $38.00 in a research report on Thursday. Sanford C. Bernstein downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price objective for the company. in a research report on Thursday. Barclays decreased their target price 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, TD Cowen downgraded shares of AllianceBernstein from a "buy" rating to a "hold" rating and lifted their price target for the stock from $38.00 to $38.50 in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.42.

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.