6,897 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Bought by HFG Advisors Inc.

HFG Advisors Inc. bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,897 shares of the asset manager's stock, valued at approximately $264,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in shares of AllianceBernstein by 19.0% during the 4th quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after buying an additional 496,923 shares during the period. JPMorgan Chase & Co. raised its position in shares of AllianceBernstein by 18.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager's stock valued at $107,552,000 after buying an additional 445,398 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at approximately $10,300,000. Invesco Ltd. purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at approximately $8,307,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at approximately $6,683,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded up $0.44 during trading hours on Friday, reaching $40.32. 469,042 shares of the company were exchanged, compared to its average volume of 444,212. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $41.86. The stock's fifty day moving average is $39.56 and its 200 day moving average is $37.98. The firm has a market cap of $4.46 billion, a PE ratio of 10.84, a PEG ratio of 3.13 and a beta of 0.83.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. AllianceBernstein had a return on equity of 18.27% and a net margin of 9.44%. The business had revenue of $838.21 million for the quarter, compared to analyst estimates of $859.36 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company's revenue was down 5.2% on a year-over-year basis. Research analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date was Monday, May 5th. AllianceBernstein's dividend payout ratio is currently 86.02%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Sanford C. Bernstein lowered AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 target price on the stock. in a research report on Thursday, April 3rd. Barclays boosted their target price on AllianceBernstein from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and cut their target price for the company from $42.00 to $38.00 in a research report on Thursday, April 3rd. TD Cowen cut 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. Finally, Evercore ISI cut their target price on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $37.67.

Insider Transactions at AllianceBernstein

In related news, Director Charles G.T. Stonehill sold 5,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $41.18, for a total transaction of $205,900.00. Following the completion of the transaction, the director now owns 20,923 shares in the company, valued at approximately $861,609.14. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel G. Kaye sold 4,825 shares of the business's stock in a transaction 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 transaction, the director now owns 39,877 shares of the company's stock, valued at approximately $1,626,981.60. The trade was a 10.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

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.