AllianceBernstein Holding L.P. (NYSE:AB) Shares Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. boosted its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 58.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 66,783 shares of the asset manager's stock after acquiring an additional 24,575 shares during the quarter. B. Riley Wealth Advisors Inc. owned about 0.06% of AllianceBernstein worth $2,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of AllianceBernstein by 19.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager's stock valued at $72,000 after buying an additional 319 shares during the last quarter. Jump Financial LLC increased its stake in shares of AllianceBernstein by 1.5% in the 4th quarter. Jump Financial LLC now owns 29,600 shares of the asset manager's stock valued at $1,098,000 after purchasing an additional 427 shares in the last quarter. Second Line Capital LLC increased its stake in shares of AllianceBernstein by 7.5% in the 4th quarter. Second Line Capital LLC now owns 8,501 shares of the asset manager's stock valued at $315,000 after purchasing an additional 594 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of AllianceBernstein by 7.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,721 shares of the asset manager's stock valued at $323,000 after purchasing an additional 599 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of AllianceBernstein by 7.1% in the 4th quarter. Independent Advisor Alliance now owns 9,518 shares of the asset manager's stock valued at $353,000 after purchasing an additional 630 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

Insider Activity at AllianceBernstein

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

AllianceBernstein Stock Down 0.6%

Shares of AllianceBernstein stock traded down $0.24 on Friday, hitting $39.92. 835,706 shares of the company were exchanged, compared to its average volume of 445,607. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.78 and a beta of 0.85. The company has a 50-day moving average price of $38.53 and a 200 day moving average price of $37.60. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.86.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $838.21 million for the quarter, compared to analysts' expectations of $859.36 million. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. Research analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date was Monday, May 5th. AllianceBernstein's dividend payout ratio is presently 86.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and cut their price target for the company from $42.00 to $38.00 in a research note on Thursday, April 3rd. Barclays lifted their price objective on AllianceBernstein from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. TD Cowen lowered their price objective on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Evercore ISI lowered their price objective on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Sanford C. Bernstein cut AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price objective on the stock. in a report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, AllianceBernstein currently has a consensus rating of "Hold" and a consensus target price of $37.67.

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.