LPL Financial LLC Has $13.77 Million Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

LPL Financial LLC raised its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 371,209 shares of the asset manager's stock after buying an additional 16,849 shares during the period. LPL Financial LLC owned about 0.32% of AllianceBernstein worth $13,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in AllianceBernstein by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager's stock valued at $85,633,000 after acquiring an additional 265,844 shares in the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $8,695,000. Raymond James Financial Inc. bought a new position in AllianceBernstein in the 4th quarter worth approximately $6,683,000. FMR LLC raised its position in AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager's stock worth $91,181,000 after purchasing an additional 154,039 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in AllianceBernstein by 7.0% during the 4th quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager's stock worth $34,852,000 after buying an additional 61,326 shares in the last quarter. Institutional investors own 19.25% of the company's stock.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock traded down $2.08 during trading on Monday, hitting $34.10. 1,378,796 shares of the company were exchanged, compared to its average volume of 436,003. The firm has a market capitalization of $3.77 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97. The firm's fifty day moving average price is $37.54 and its 200 day moving average price is $36.92. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.37.

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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 net margin of 9.46% and a return on equity of 17.88%. As a group, equities research analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. 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%. AllianceBernstein's payout ratio is currently 112.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AB shares. Bank of America downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $38.00 in a research report on Thursday. TD Cowen downgraded shares of AllianceBernstein from a "buy" rating to a "hold" rating and upped their target price for the company from $38.00 to $38.50 in a research report on Tuesday, February 25th. Sanford C. Bernstein cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research report on Thursday. Finally, Barclays cut their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.42.

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.