AllianceBernstein Holding L.P. (NYSE:AB) is Four Tree Island Advisory LLC's 8th Largest Position

Four Tree Island Advisory LLC cut its holdings in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,083 shares of the asset manager's stock after selling 26,353 shares during the quarter. AllianceBernstein makes up about 5.6% of Four Tree Island Advisory LLC's holdings, making the stock its 8th biggest holding. Four Tree Island Advisory LLC owned 0.19% of AllianceBernstein worth $7,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in AllianceBernstein by 19.0% during the 4th quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after purchasing an additional 496,923 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AllianceBernstein by 18.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager's stock valued at $107,552,000 after acquiring an additional 445,398 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of AllianceBernstein during the 1st quarter valued at about $12,309,000. Basswood Capital Management L.L.C. purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at about $10,300,000. Finally, Invesco Ltd. purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at about $8,307,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Price Performance

Shares of NYSE:AB traded up $0.16 during trading on Friday, hitting $42.93. The company's stock had a trading volume of 89,670 shares, compared to its average volume of 525,164. The company has a 50-day moving average of $40.53 and a 200-day moving average of $38.75. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $43.30. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.64 and a beta of 0.82.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). AllianceBernstein had a return on equity of 18.27% and a net margin of 9.44%. The business had revenue of $844.43 million during the quarter, compared to the consensus estimate of $853.64 million. During the same quarter last year, the company earned $0.71 EPS. AllianceBernstein's revenue for the quarter was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

Insider Buying and Selling

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $41.18, for a total transaction of $205,900.00. Following the sale, the director owned 20,923 shares in the company, valued at approximately $861,609.14. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel G. Kaye sold 4,825 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $40.80, for a total transaction of $196,860.00. Following the sale, the director directly owned 39,877 shares of the company's stock, valued at approximately $1,626,981.60. This trade represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AB has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Friday. TD Cowen dropped their price target on shares of AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price target for the company from $42.25 to $40.00 in a report on Friday, June 27th. Barclays raised their price target on shares of AllianceBernstein from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Sanford C. Bernstein reaffirmed a "mixed" rating on shares of AllianceBernstein in a report on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.67.

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.