Resources Investment Advisors LLC. acquired a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,069 shares of the asset manager’s stock, valued at approximately $205,000.
A number of other large investors have also added to or reduced their stakes in AB. Americana Partners LLC raised its holdings in shares of AllianceBernstein by 2.5% during the 3rd quarter. Americana Partners LLC now owns 13,725 shares of the asset manager’s stock valued at $371,000 after purchasing an additional 334 shares in the last quarter. Colony Group LLC raised its holdings in AllianceBernstein by 5.0% during the third quarter. Colony Group LLC now owns 15,158 shares of the asset manager’s stock valued at $410,000 after buying an additional 728 shares in the last quarter. Endurance Wealth Management Inc. lifted its position in shares of AllianceBernstein by 2.6% in the third quarter. Endurance Wealth Management Inc. now owns 31,550 shares of the asset manager’s stock worth $853,000 after buying an additional 800 shares during the last quarter. Private Capital Group LLC lifted its position in shares of AllianceBernstein by 193.3% in the fourth quarter. Private Capital Group LLC now owns 1,411 shares of the asset manager’s stock worth $48,000 after buying an additional 930 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter valued at about $25,000. 17.75% of the stock is currently owned by institutional investors.
Shares of AllianceBernstein stock opened at $36.82 on Tuesday. AllianceBernstein Holding L.P. has a 1 year low of $13.24 and a 1 year high of $39.65. The company’s fifty day simple moving average is $36.44 and its 200-day simple moving average is $31.86. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.80 and a beta of 1.51.
AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Wednesday, February 10th. The asset manager reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. AllianceBernstein had a net margin of 7.33% and a return on equity of 17.85%. The firm had revenue of $879.80 million during the quarter, compared to the consensus estimate of $783.80 million. During the same period in the prior year, the firm earned $0.85 EPS. On average, analysts anticipate that AllianceBernstein Holding L.P. will post 2.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 4th. Investors of record on Monday, February 22nd will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 10.54%. The ex-dividend date of this dividend is Friday, February 19th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.69. AllianceBernstein’s dividend payout ratio (DPR) is presently 109.52%.
A number of brokerages have issued reports on AB. Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research report on Wednesday, January 13th. Sanford C. Bernstein upped their price objective on shares of AllianceBernstein from $38.50 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Finally, Keefe, Bruyette & Woods upgraded shares of AllianceBernstein from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $35.00 to $40.00 in a report on Tuesday, January 12th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.88.
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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