AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 63.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,408 shares of the asset manager’s stock after selling 14,693 shares during the period. Atria Wealth Solutions Inc.’s holdings in AllianceBernstein were worth $261,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AB. GAMMA Investing LLC acquired a new position in AllianceBernstein during the 4th quarter valued at approximately $27,000. Koshinski Asset Management Inc. bought a new position in shares of AllianceBernstein during the fourth quarter worth about $349,000. International Assets Investment Management LLC bought a new position in shares of AllianceBernstein during the fourth quarter worth about $1,500,000. Tritonpoint Wealth LLC acquired a new stake in shares of AllianceBernstein in the 4th quarter worth about $909,000. Finally, Chevy Chase Trust Holdings LLC acquired a new position in AllianceBernstein during the 4th quarter valued at about $279,000. 19.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on AB shares. TD Cowen dropped their price target on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Evercore ISI reissued a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a research note on Tuesday, March 12th. Finally, Bank of America lowered their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, AllianceBernstein currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.19.

AllianceBernstein Stock Performance

Shares of AB stock opened at $32.32 on Thursday. AllianceBernstein Holding L.P. has a 1 year low of $25.83 and a 1 year high of $35.84. The business’s fifty day moving average is $33.62 and its 200-day moving average is $31.87. The stock has a market cap of $3.72 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last released its earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $857.85 million. During the same period in the previous year, the company earned $0.70 earnings per share. AllianceBernstein’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that AllianceBernstein Holding L.P. will post 2.96 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Monday, May 6th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 9.03%. The ex-dividend date is Friday, May 3rd. AllianceBernstein’s payout ratio is 121.16%.

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.