AllianceBernstein Holding L.P. $AB Position Raised by Disciplined Equity Management Inc.

Key Points

• Disciplined Equity Management Inc. increased its position in AllianceBernstein by 12.1%, holding 60,293 shares, making it the firm's 7th largest investment.
• AllianceBernstein reported earnings per share (EPS) of $0.76, missing expectations, while revenue increased by 5.9% year-over-year to $844.43 million.
• The company recently disclosed a quarterly dividend of $0.76 per share, equating to a 7.7% dividend yield with a payout ratio of 90.21%.

Disciplined Equity Management Inc. boosted its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,293 shares of the asset manager's stock after buying an additional 6,490 shares during the period. AllianceBernstein makes up about 1.4% of Disciplined Equity Management Inc.'s holdings, making the stock its 7th largest holding. Disciplined Equity Management Inc. owned 0.05% of AllianceBernstein worth $2,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AB. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AllianceBernstein in the 2nd quarter valued at about $193,757,000. 683 Capital Management LLC bought a new position in shares of AllianceBernstein in the first quarter worth approximately $20,144,000. CHURCHILL MANAGEMENT Corp purchased a new stake in AllianceBernstein in the first quarter valued at approximately $12,309,000. Goldman Sachs Group Inc. lifted its position 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 during the last quarter. Finally, Ursa Fund Management LLC bought a new stake in AllianceBernstein during the first quarter valued at approximately $7,662,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

Shares of AB stock opened at $39.45 on Wednesday. The company has a market capitalization of $4.36 billion, a P/E ratio of 11.71, a PEG ratio of 1.26 and a beta of 0.82. AllianceBernstein Holding L.P. has a fifty-two week low of $32.28 and a fifty-two week high of $43.30. The stock has a 50 day moving average price of $39.04 and a two-hundred day moving average price of $39.45.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its earnings results on Thursday, July 24th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). AllianceBernstein had a return on equity of 18.63% and a net margin of 8.35%.The firm had revenue of $844.43 million during the quarter, compared to the consensus estimate of $853.64 million. During the same quarter in the prior year, the business posted $0.71 EPS. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were given a $0.76 dividend. The ex-dividend date was Monday, August 4th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.7%. AllianceBernstein's payout ratio is presently 90.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America increased their price target on shares of AllianceBernstein from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, October 2nd. The Goldman Sachs Group lowered shares of AllianceBernstein from a "buy" rating to a "neutral" rating and cut their target price for the stock from $42.25 to $40.00 in a research report on Friday, June 27th. Evercore ISI lowered their price target on AllianceBernstein from $46.00 to $44.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. Zacks Research lowered AllianceBernstein from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Barclays upped their price objective on AllianceBernstein from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.67.

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.

Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:AB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.