HUB Investment Partners LLC Has $6.16 Million Stock Holdings in AllianceBernstein Holding L.P. $AB

Key Points

• HUB Investment Partners cut its stake in AllianceBernstein by 22.7%, selling 47,181 shares and ending the quarter with 161,097 shares (about 0.18% of the company) valued at roughly $6.16 million.
• AllianceBernstein raised its quarterly dividend to $0.96 (annualized $3.84), implying a 10.1% yield, though the payout ratio is elevated at 128%, which may raise sustainability concerns.
• The firm slightly beat quarterly EPS estimates ($0.96 vs. $0.92) while revenue fell 2.7% year-over-year; the stock has a consensus "Hold" rating with a $42.17 price target and a market cap of about $3.51 billion.

HUB Investment Partners LLC lowered its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 22.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,097 shares of the asset manager's stock after selling 47,181 shares during the period. HUB Investment Partners LLC owned approximately 0.18% of AllianceBernstein worth $6,157,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in shares of AllianceBernstein by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,841 shares of the asset manager's stock worth $1,255,000 after buying an additional 273 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of AllianceBernstein by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,190 shares of the asset manager's stock valued at $504,000 after acquiring an additional 289 shares in the last quarter. Oak Associates Ltd. OH increased its stake in shares of AllianceBernstein by 3.0% in the 2nd quarter. Oak Associates Ltd. OH now owns 23,711 shares of the asset manager's stock valued at $968,000 after acquiring an additional 690 shares in the last quarter. PFG Investments LLC lifted its position in shares of AllianceBernstein by 8.6% during the 3rd quarter. PFG Investments LLC now owns 10,776 shares of the asset manager's stock valued at $412,000 after acquiring an additional 853 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in AllianceBernstein by 4.4% during the second quarter. Corient Private Wealth LLC now owns 20,445 shares of the asset manager's stock worth $835,000 after acquiring an additional 865 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Price Performance

AB opened at $38.01 on Friday. AllianceBernstein Holding L.P. has a fifty-two week low of $32.28 and a fifty-two week high of $44.11. The firm has a market capitalization of $3.51 billion, a PE ratio of 12.67, a P/E/G ratio of 1.05 and a beta of 0.87. The company's 50-day moving average is $39.91 and its 200 day moving average is $39.60.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $957.31 million during the quarter, compared to the consensus estimate of $956.45 million. AllianceBernstein had a return on equity of 21.17% and a net margin of 6.62%.The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, analysts expect that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.86. This represents a $3.84 annualized dividend and a dividend yield of 10.1%. AllianceBernstein's payout ratio is presently 128.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on AB. Sanford C. Bernstein restated a "neutral" rating on shares of AllianceBernstein in a report on Monday, February 9th. TD Cowen reissued a "hold" rating on shares of AllianceBernstein in a research report on Wednesday, January 14th. Barclays raised their target price on AllianceBernstein from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Friday, February 6th. Weiss Ratings raised AllianceBernstein from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Finally, Zacks Research cut AllianceBernstein from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.17.

AllianceBernstein Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm's roots date back to 1967 with the founding of Sanford C.

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