Sei Investments Co. Buys 12,674 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Sei Investments Co. raised its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,750 shares of the asset manager's stock after purchasing an additional 12,674 shares during the period. Sei Investments Co. owned 0.14% of AllianceBernstein worth $5,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AB. Luken Investment Analytics LLC bought a new position in AllianceBernstein in the 4th quarter valued at about $37,000. HHM Wealth Advisors LLC acquired a new position in shares of AllianceBernstein during the fourth quarter valued at approximately $61,000. PNC Financial Services Group Inc. lifted its position in AllianceBernstein by 19.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager's stock worth $72,000 after purchasing an additional 319 shares during the period. Golden State Wealth Management LLC bought a new position in AllianceBernstein during the 4th quarter valued at $96,000. Finally, Jones Financial Companies Lllp increased its position 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 purchasing an additional 1,597 shares during the period. Institutional investors own 19.25% of the company's stock.

AllianceBernstein Stock Performance

Shares of NYSE AB traded down $1.74 during mid-day trading on Friday, reaching $36.17. The company had a trading volume of 933,196 shares, compared to its average volume of 432,231. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37. The stock's 50 day moving average is $37.66 and its 200-day moving average is $36.93. The stock has a market capitalization of $4.00 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97.

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AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly 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%. On average, sell-side analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 EPS 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 issued a dividend of $1.05 per share. 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 11.61%. The ex-dividend date of this dividend was Tuesday, February 18th. AllianceBernstein's dividend payout ratio (DPR) is 112.90%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein set a $45.00 target price on AllianceBernstein in a research note on Thursday, January 16th. 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 report on Monday, December 9th. Bank of America lowered shares of AllianceBernstein from a "buy" rating to a "neutral" rating and cut their target price for the company from $42.00 to $38.00 in a research note on Thursday. Finally, TD Cowen cut AllianceBernstein from a "buy" rating to a "hold" rating and lifted their target price for the stock from $38.00 to $38.50 in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.58.

AllianceBernstein Company 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.