AllianceBernstein Holding L.P. $AB Stock Holdings Lessened by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners cut its AllianceBernstein stake by 59.1% in the third quarter, selling 81,233 shares and retaining 56,108 shares valued at approximately $1.96 million. Institutional investors and hedge funds own 19.25% of the company.
• AllianceBernstein reported third-quarter adjusted EPS of $0.88, beating the $0.86 consensus estimate, while revenue increased 7.8% year over year to $904.25 million.
• The company raised its quarterly distribution to $0.88 per share from $0.82, implying a $3.52 annualized payout and roughly a 10.1% yield. Analysts remain cautious, with a consensus “Hold” rating and a $36.50 price target.

Moody Aldrich Partners LLC lowered its position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 59.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,108 shares of the asset manager's stock after selling 81,233 shares during the period. Moody Aldrich Partners LLC owned 0.06% of AllianceBernstein worth $1,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company acquired a new stake in AllianceBernstein during the 2nd quarter valued at $1,908,000. SMH Capital Advisors Inc. acquired a new position in AllianceBernstein in the second quarter worth $395,000. Bank of America Corp DE acquired a new position in AllianceBernstein in the second quarter worth $522,000. Ameritas Advisory Services LLC acquired a new position in AllianceBernstein in the second quarter worth $762,000. Finally, Kestra Advisory Services LLC grew its holdings in shares of AllianceBernstein by 114.6% during the first quarter. Kestra Advisory Services LLC now owns 74,211 shares of the asset manager's stock worth $2,778,000 after purchasing an additional 39,636 shares during the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein News Summary

Here are the key news stories impacting AllianceBernstein this week:

• Positive Sentiment: AllianceBernstein reported third-quarter adjusted EPS of $0.88, exceeding the $0.86 consensus estimate. Revenue rose 7.8% year over year to $904.25 million, while management highlighted continued margin strength. AllianceBernstein Stock Slips As Q3 Results Keep Margin Strength In View
• Positive Sentiment: Strong net inflows and the company’s leadership succession plan reinforce the investment case by signaling client demand and strategic continuity. The reports also suggest the valuation may not fully reflect the firm’s operating momentum. AllianceBernstein Holding Posts Strong Inflows And CEO Plan
• Positive Sentiment: The quarterly cash distribution was raised to $0.88 per unit from $0.82, a 7.3% increase. The annualized payout is $3.52 per unit, supporting an approximately 10% indicated yield, although the stock goes ex-dividend on November 6. AllianceBernstein Announces Cash Distribution

AllianceBernstein Price Performance

AB stock opened at $34.71 on Thursday. The company has a 50 day moving average price of $35.69 and a 200 day moving average price of $37.55. AllianceBernstein Holding L.P. has a fifty-two week low of $33.90 and a fifty-two week high of $44.11. The stock has a market capitalization of $3.23 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.79.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The asset manager reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $904.25 million for the quarter, compared to the consensus estimate of $913.82 million. AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, equities analysts expect that AllianceBernstein Holding L.P. will post 3.45 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, November 6th. This is an increase from AllianceBernstein's previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 10.1%. AllianceBernstein's dividend payout ratio is presently 97.04%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AB. Weiss Ratings lowered AllianceBernstein from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Evercore set a $39.00 price target on AllianceBernstein in a report on Friday, July 10th. Sanford C. Bernstein reiterated a "hold" rating and set a $35.00 price target on shares of AllianceBernstein in a research report on Wednesday. Barclays decreased their price objective on shares of AllianceBernstein from $39.00 to $37.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 14th. Finally, TD Cowen lowered their price objective on shares of AllianceBernstein from $36.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AllianceBernstein currently has an average rating of "Hold" and a consensus target price of $36.50.

Insider Buying and Selling at AllianceBernstein

In other news, Director Charles Stonehill sold 5,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total transaction of $185,850.00. Following the completion of the sale, the director owned 24,573 shares in the company, valued at $913,378.41. The trade was a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

AllianceBernstein Profile

AllianceBernstein Holding L.P. NYSE: AB is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.