Moody National Bank Trust Division acquired a new stake in shares of AllianceBernstein Holding LP (NYSE:AB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,900 shares of the asset manager’s stock, valued at approximately $332,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in AllianceBernstein in the second quarter valued at approximately $129,000. Sageworth Trust Co boosted its stake in AllianceBernstein by 350.4% in the third quarter. Sageworth Trust Co now owns 4,504 shares of the asset manager’s stock valued at $137,000 after acquiring an additional 3,504 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in AllianceBernstein by 516.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,549 shares of the asset manager’s stock valued at $158,000 after acquiring an additional 4,649 shares in the last quarter. IFP Advisors Inc boosted its stake in AllianceBernstein by 54.4% in the third quarter. IFP Advisors Inc now owns 6,146 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 2,166 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in AllianceBernstein in the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 20.60% of the company’s stock.
NYSE:AB opened at $28.92 on Tuesday. AllianceBernstein Holding LP has a 12 month low of $24.00 and a 12 month high of $31.24. The firm has a market cap of $2.74 billion, a PE ratio of 9.89, a P/E/G ratio of 1.47 and a beta of 1.18.
AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, October 24th. The asset manager reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. AllianceBernstein had a net margin of 7.52% and a return on equity of 18.08%. The business had revenue of $850.20 million during the quarter, compared to the consensus estimate of $701.40 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that AllianceBernstein Holding LP will post 2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.69 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.62. This represents a $2.76 annualized dividend and a dividend yield of 9.54%. The ex-dividend date of this dividend is Friday, November 2nd. AllianceBernstein’s payout ratio is presently 120.00%.
Several equities research analysts have weighed in on AB shares. Zacks Investment Research downgraded shares of AllianceBernstein from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Citigroup raised their target price on shares of AllianceBernstein from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, July 30th.
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AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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