AllianceBernstein Holding L.P. $AB Shares Acquired by Brookwood Investment Group LLC

Brookwood Investment Group LLC grew its position in AllianceBernstein Holding L.P. (NYSE:AB) by 76.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,344 shares of the asset manager’s stock after buying an additional 11,849 shares during the quarter. Brookwood Investment Group LLC’s holdings in AllianceBernstein were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of AllianceBernstein in the first quarter valued at $32,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of AllianceBernstein in the first quarter valued at $38,000. Costello Asset Management INC acquired a new stake in shares of AllianceBernstein in the first quarter valued at $73,000. Zions Bancorporation National Association UT acquired a new stake in shares of AllianceBernstein in the first quarter valued at $77,000. Finally, Golden State Wealth Management LLC grew its stake in shares of AllianceBernstein by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 5,150 shares of the asset manager’s stock valued at $197,000 after buying an additional 2,575 shares in the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AB has been the subject of several analyst reports. Sanford C. Bernstein set a $43.00 target price on AllianceBernstein in a research note on Friday. Barclays lowered their target price on AllianceBernstein from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. TD Cowen boosted their target price on AllianceBernstein from $36.50 to $40.00 and gave the stock a “hold” rating in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of AllianceBernstein in a research note on Friday. Finally, Zacks Research cut AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AllianceBernstein has an average rating of “Hold” and an average target price of $41.50.

AllianceBernstein Price Performance

Shares of NYSE AB opened at $39.56 on Monday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The business has a 50-day moving average of $38.90 and a two-hundred day moving average of $39.66. AllianceBernstein Holding L.P. has a 1 year low of $32.28 and a 1 year high of $43.30.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Thursday, October 23rd. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $884.67 million during the quarter, compared to the consensus estimate of $900.69 million. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.AllianceBernstein’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. As a group, equities research analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.86 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $3.44 dividend on an annualized basis and a yield of 8.7%. AllianceBernstein’s dividend payout ratio (DPR) is presently 100.00%.

About AllianceBernstein

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.