Herold Advisors Inc. Has $481,000 Stake in AllianceBernstein Holding L.P. (NYSE:AB)

Herold Advisors Inc. lifted its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the asset manager’s stock after purchasing an additional 300 shares during the period. Herold Advisors Inc.’s holdings in AllianceBernstein were worth $481,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Barclays PLC acquired a new position in AllianceBernstein in the second quarter valued at approximately $38,000. National Bank of Canada FI lifted its holdings in AllianceBernstein by 2.2% in the third quarter. National Bank of Canada FI now owns 30,857 shares of the asset manager’s stock valued at $930,000 after buying an additional 651 shares during the period. Commonwealth Equity Services LLC lifted its holdings in AllianceBernstein by 3.7% in the third quarter. Commonwealth Equity Services LLC now owns 127,211 shares of the asset manager’s stock valued at $3,861,000 after buying an additional 4,482 shares during the period. Mission Wealth Management LP lifted its holdings in AllianceBernstein by 28.1% in the third quarter. Mission Wealth Management LP now owns 30,035 shares of the asset manager’s stock valued at $912,000 after buying an additional 6,595 shares during the period. Finally, FinTrust Capital Advisors LLC acquired a new position in AllianceBernstein in the third quarter valued at approximately $30,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Stock Performance

NYSE:AB traded down $0.13 during trading hours on Friday, hitting $33.58. The stock had a trading volume of 609,209 shares, compared to its average volume of 344,368. The business’s 50 day moving average is $33.61 and its 200-day moving average is $31.65. AllianceBernstein Holding L.P. has a one year low of $25.83 and a one year high of $35.84. The company has a market cap 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.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) 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 company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that AllianceBernstein Holding L.P. will post 3.06 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

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

Analysts Set New Price Targets

AB has been the topic of several analyst reports. TD Cowen restated a “buy” rating and issued a $40.00 price objective on shares of AllianceBernstein in a report on Tuesday, April 9th. TheStreet raised shares of AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AllianceBernstein has a consensus rating of “Moderate Buy” and an average target price of $40.44.

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.