AllianceBernstein Holding L.P. (NYSE:AB) Stake Raised by Herold Advisors Inc.

Herold Advisors Inc. grew its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,500 shares of the asset manager’s stock after buying an additional 300 shares during the period. Herold Advisors Inc.’s holdings in AllianceBernstein were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AB. GAMMA Investing LLC bought a new stake in AllianceBernstein during the fourth quarter worth approximately $27,000. FinTrust Capital Advisors LLC bought a new stake in AllianceBernstein during the third quarter worth approximately $30,000. Barclays PLC bought a new stake in AllianceBernstein during the second quarter worth approximately $38,000. Anchor Investment Management LLC bought a new stake in AllianceBernstein during the fourth quarter worth approximately $105,000. Finally, Gateway Advisory LLC bought a new stake in AllianceBernstein during the third quarter worth approximately $273,000. Institutional investors own 19.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AB. Evercore ISI reissued a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a report on Tuesday, March 12th. TD Cowen restated a “buy” rating and issued a $40.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 9th. Finally, TheStreet upgraded shares of AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.44.

AllianceBernstein Price Performance

NYSE AB traded down $0.13 on Friday, hitting $33.58. 609,209 shares of the stock were exchanged, compared to its average volume of 344,368. AllianceBernstein Holding L.P. has a 52-week low of $25.83 and a 52-week high of $35.84. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.65 and a beta of 1.25. The company’s 50-day moving average price is $33.61 and its two-hundred day moving average price is $31.65.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $857.85 million. During the same period in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that AllianceBernstein Holding L.P. will post 3.06 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.17%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, February 16th. AllianceBernstein’s payout ratio is presently 132.19%.

AllianceBernstein 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.