AllianceBernstein Holding L.P. (NYSE:AB) Shares Bought by Highland Capital Management LLC

Highland Capital Management LLC raised its position in AllianceBernstein Holding L.P. (NYSE:AB) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,433 shares of the asset manager’s stock after acquiring an additional 11,426 shares during the quarter. Highland Capital Management LLC’s holdings in AllianceBernstein were worth $1,335,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. UBS Group AG grew its position in shares of AllianceBernstein by 39.9% during the fourth quarter. UBS Group AG now owns 851,533 shares of the asset manager’s stock worth $26,423,000 after buying an additional 242,765 shares in the last quarter. Jennison Associates LLC purchased a new stake in AllianceBernstein during the first quarter worth approximately $23,660,000. Nomura Holdings Inc. lifted its stake in AllianceBernstein by 61.7% during the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock worth $7,156,000 after purchasing an additional 88,000 shares during the last quarter. TCG Advisory Services LLC lifted its stake in AllianceBernstein by 2,811.0% during the fourth quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock worth $6,917,000 after purchasing an additional 215,270 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in AllianceBernstein by 28.8% in the fourth quarter. Stifel Financial Corp now owns 189,724 shares of the asset manager’s stock valued at $5,887,000 after buying an additional 42,451 shares during the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein Trading Down 0.4 %

Shares of AllianceBernstein stock traded down $0.14 during trading hours on Friday, reaching $33.83. The stock had a trading volume of 253,239 shares, compared to its average volume of 190,091. The firm has a 50 day simple moving average of $33.50 and a two-hundred day simple moving average of $33.34. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.76 and a beta of 1.24. AllianceBernstein Holding L.P. has a 1 year low of $25.83 and a 1 year high of $35.43.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, April 25th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The business had revenue of $884.18 million during the quarter, compared to analyst estimates of $900.60 million. Sell-side analysts forecast that AllianceBernstein Holding L.P. will post 2.96 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.92 dividend on an annualized basis and a yield of 8.63%. AllianceBernstein’s dividend payout ratio (DPR) is presently 121.16%.

Analysts Set New Price Targets

Several research firms have recently commented on AB. Bank of America cut their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, April 29th. TD Cowen dropped their price objective on AllianceBernstein from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.69.

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.