FCG Investment Co Makes New Investment in AllianceBernstein Holding L.P. $AB

Key Points

• FCG Investment Co has acquired a new stake in AllianceBernstein Holding L.P., purchasing 8,873 shares valued at approximately $362,000.
• Following recent earnings results, analysts have varied ratings for AllianceBernstein, with the stock currently holding a consensus rating of "Hold" and a target price of $39.33.
• AllianceBernstein recently announced a dividend of $0.76 per share, representing an annualized yield of 8.0%, with a high payout ratio of 90.21%.

FCG Investment Co bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,873 shares of the asset manager's stock, valued at approximately $362,000.

Other hedge funds have also made changes to their positions in the company. SVB Wealth LLC purchased a new stake in AllianceBernstein during the 1st quarter valued at approximately $32,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of AllianceBernstein in the first quarter valued at approximately $38,000. Harbor Investment Advisory LLC acquired a new position in shares of AllianceBernstein in the first quarter valued at approximately $48,000. Costello Asset Management INC purchased a new stake in shares of AllianceBernstein during the first quarter worth approximately $73,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of AllianceBernstein during the first quarter worth $77,000. Institutional investors and hedge funds own 19.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AB. Barclays boosted their price objective on shares of AllianceBernstein from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of AllianceBernstein in a report on Friday, September 5th. The Goldman Sachs Group cut AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $42.25 to $40.00 in a research report on Friday, June 27th. Zacks Research cut AllianceBernstein from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Evercore ISI decreased their price target on AllianceBernstein from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.33.

AllianceBernstein Price Performance

AB opened at $37.85 on Friday. AllianceBernstein Holding L.P. has a 1-year low of $32.28 and a 1-year high of $43.30. The stock has a market cap of $4.18 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.43 and a beta of 0.84. The stock's 50 day simple moving average is $39.88 and its 200 day simple moving average is $39.39.

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

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 8.0%. The ex-dividend date was Monday, August 4th. AllianceBernstein's dividend payout ratio (DPR) is 90.21%.

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.

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