Capital Advisory Group Advisory Services LLC Purchases 12,225 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

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

A number of other large investors also recently modified their holdings of AB. FMR LLC boosted its holdings in AllianceBernstein by 19.0% in the fourth quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after acquiring an additional 496,923 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AllianceBernstein by 18.1% in the fourth 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. Basswood Capital Management L.L.C. bought a new position in AllianceBernstein in the fourth quarter valued at approximately $10,300,000. Invesco Ltd. acquired a new stake in AllianceBernstein during the 4th quarter worth $8,307,000. Finally, Raymond James Financial Inc. bought a new stake in shares of AllianceBernstein during the 4th quarter valued at $6,683,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Daniel G. Kaye sold 4,825 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $40.80, for a total transaction of $196,860.00. Following the completion of the transaction, the director now directly owns 39,877 shares of the company's stock, valued at approximately $1,626,981.60. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $205,900.00. Following the completion of the transaction, the director now owns 20,923 shares of the company's stock, valued at approximately $861,609.14. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

AllianceBernstein Trading Down 0.4%

Shares of AB stock traded down $0.15 during trading hours on Thursday, hitting $40.27. 101,973 shares of the company were exchanged, compared to its average volume of 442,980. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.86. The business has a 50 day moving average of $38.99 and a two-hundred day moving average of $37.82. The company has a market capitalization of $4.46 billion, a PE ratio of 10.83, a PEG ratio of 0.78 and a beta of 0.83.

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

AllianceBernstein Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, May 5th. This represents a $3.20 annualized dividend and a dividend yield of 7.95%. AllianceBernstein's dividend payout ratio is currently 86.02%.

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.