8,755 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,755 shares of the asset manager's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NBC Securities Inc. raised its stake in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock valued at $25,000 after buying an additional 329 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of AllianceBernstein during the 3rd quarter valued at approximately $31,000. FSA Wealth Management LLC bought a new position in AllianceBernstein during the third quarter worth $36,000. Luken Investment Analytics LLC acquired a new position in AllianceBernstein in the fourth quarter worth $37,000. Finally, Farther Finance Advisors LLC increased its stake in AllianceBernstein by 115.4% during the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock valued at $50,000 after purchasing an additional 764 shares during the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

AllianceBernstein Trading Up 3.2 %

NYSE:AB traded up $1.14 during mid-day trading on Friday, hitting $37.09. The stock had a trading volume of 764,225 shares, compared to its average volume of 598,978. The company has a 50 day simple moving average of $37.24 and a 200-day simple moving average of $36.07. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 0.73 and a beta of 1.21. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.37.

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

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.05 dividend. This is a boost from AllianceBernstein's previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 11.32%. AllianceBernstein's dividend payout ratio is presently 82.80%.

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.