Americana Partners LLC Purchases Shares of 5,062 AllianceBernstein Holding L.P. $AB

Americana Partners LLC purchased a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,062 shares of the asset manager’s stock, valued at approximately $207,000.

A number of other large investors have also recently made changes to their positions in AB. Kingstone Capital Partners Texas LLC bought a new position in shares of AllianceBernstein during the 2nd quarter valued at approximately $193,757,000. Goldman Sachs Group Inc. lifted its holdings in AllianceBernstein by 51.8% during the first quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after purchasing an additional 312,878 shares in the last quarter. 683 Capital Management LLC purchased a new position in AllianceBernstein during the first quarter valued at approximately $20,144,000. LPL Financial LLC boosted its position in shares of AllianceBernstein by 2.6% in the first quarter. LPL Financial LLC now owns 380,837 shares of the asset manager’s stock worth $14,590,000 after purchasing an additional 9,628 shares during the period. Finally, Invesco Ltd. increased its stake in shares of AllianceBernstein by 45.1% in the first quarter. Invesco Ltd. now owns 325,018 shares of the asset manager’s stock worth $12,451,000 after purchasing an additional 101,041 shares in the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AB has been the topic of a number of analyst reports. Zacks Research upgraded shares of AllianceBernstein from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Sanford C. Bernstein set a $43.00 price target on AllianceBernstein in a report on Friday, October 24th. Cowen restated a “hold” rating on shares of AllianceBernstein in a research report on Friday, October 24th. TD Cowen increased their target price on AllianceBernstein from $36.50 to $40.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. Finally, Barclays decreased their target price on AllianceBernstein from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.50.

AllianceBernstein Stock Up 0.9%

Shares of AllianceBernstein stock opened at $39.74 on Wednesday. AllianceBernstein Holding L.P. has a twelve month low of $32.28 and a twelve month high of $43.30. The business has a 50-day moving average price of $38.89 and a 200-day moving average price of $39.92. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.24 and a beta of 0.86.

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

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.86 per share. The ex-dividend date is Monday, November 3rd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.7%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.76. AllianceBernstein’s dividend payout ratio is currently 113.16%.

AllianceBernstein Company 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.