Brookwood Investment Group LLC Acquires New Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Brookwood Investment Group LLC acquired a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,495 shares of the asset manager's stock, valued at approximately $594,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AB. Kestra Private Wealth Services LLC grew its position in AllianceBernstein by 4.6% during the first quarter. Kestra Private Wealth Services LLC now owns 5,904 shares of the asset manager's stock worth $226,000 after buying an additional 257 shares during the period. Joel Isaacson & Co. LLC raised its holdings in AllianceBernstein by 2.8% during the first quarter. Joel Isaacson & Co. LLC now owns 10,177 shares of the asset manager's stock worth $390,000 after purchasing an additional 281 shares during the last quarter. Jump Financial LLC raised its holdings in AllianceBernstein by 1.5% during the fourth quarter. Jump Financial LLC now owns 29,600 shares of the asset manager's stock worth $1,098,000 after purchasing an additional 427 shares during the last quarter. JBR Co Financial Management Inc boosted its position in AllianceBernstein by 4.0% during the first quarter. JBR Co Financial Management Inc now owns 12,033 shares of the asset manager's stock worth $461,000 after purchasing an additional 462 shares in the last quarter. Finally, Fiduciary Group LLC grew its holdings in AllianceBernstein by 7.7% in the first quarter. Fiduciary Group LLC now owns 6,965 shares of the asset manager's stock valued at $267,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

AllianceBernstein Stock Performance

NYSE AB traded up $0.14 during mid-day trading on Friday, reaching $42.91. 185,026 shares of the stock were exchanged, compared to its average volume of 166,531. The business's fifty day simple moving average is $40.53 and its 200 day simple moving average is $38.75. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $43.30. The stock has a market capitalization of $4.75 billion, a PE ratio of 12.73, a PEG ratio of 1.67 and a beta of 0.82.

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

AllianceBernstein Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend is Monday, August 4th. AllianceBernstein's dividend payout ratio (DPR) is presently 94.96%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have recently issued reports on AB. TD Cowen cut their price target on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded shares of AllianceBernstein from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Sanford C. Bernstein reaffirmed a "mixed" rating on shares of AllianceBernstein in a report on Wednesday, July 16th. Evercore ISI raised their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Barclays lifted their price objective on AllianceBernstein from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday. 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 MarketBeat.com, AllianceBernstein has a consensus rating of "Hold" and a consensus price target of $39.67.

About AllianceBernstein

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.