AllianceBernstein Holding L.P. (NYSE:AB) Shares Acquired by Capital Advisory Group Advisory Services LLC

Capital Advisory Group Advisory Services LLC increased its stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 28.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,856 shares of the asset manager's stock after purchasing an additional 12,225 shares during the quarter. Capital Advisory Group Advisory Services LLC owned 0.05% of AllianceBernstein worth $2,140,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Transce3nd LLC bought a new stake in shares of AllianceBernstein in the fourth quarter worth $25,000. Summit Securities Group LLC bought a new stake in AllianceBernstein in the fourth quarter worth about $41,000. Harbor Investment Advisory LLC bought a new stake in AllianceBernstein in the first quarter worth about $48,000. PNC Financial Services Group Inc. grew its stake in 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 acquiring an additional 319 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of AllianceBernstein in the 1st quarter valued at approximately $87,000. Hedge funds and other institutional investors own 19.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays upped their price target on AllianceBernstein from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Bank of America cut AllianceBernstein from a "buy" rating to a "neutral" rating and decreased their price target for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. Wall Street Zen upgraded AllianceBernstein from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Evercore ISI dropped their price target on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen dropped their target price on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $37.67.

Insider Buying and Selling

In related news, Director Daniel G. Kaye sold 4,825 shares of the business's stock in a transaction dated 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 directly owns 39,877 shares in the company, valued at approximately $1,626,981.60. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles G.T. Stonehill sold 5,000 shares of the company'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 transaction, the director now directly owns 20,923 shares in the company, valued at approximately $861,609.14. This represents 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 corporate insiders.

AllianceBernstein Price Performance

Shares of NYSE:AB traded down $0.80 on Friday, hitting $39.40. The company's stock had a trading volume of 205,222 shares, compared to its average volume of 444,365. The company has a 50-day simple moving average of $39.12 and a 200 day simple moving average of $37.86. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $41.86. The company has a market capitalization of $4.36 billion, a PE ratio of 10.59, a PEG ratio of 0.78 and a beta of 0.83.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data 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 during 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 was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. On average, equities research analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend was Monday, May 5th. AllianceBernstein's payout ratio is 86.02%.

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.