14,294 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,294 shares of the asset manager's stock, valued at approximately $548,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in AllianceBernstein in the fourth quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in AllianceBernstein during the fourth quarter worth approximately $41,000. Harbor Investment Advisory LLC purchased a new stake in shares of AllianceBernstein during the 1st quarter worth approximately $48,000. PNC Financial Services Group Inc. boosted its holdings in shares of AllianceBernstein by 19.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager's stock valued at $72,000 after buying an additional 319 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of AllianceBernstein in the 1st quarter valued at $87,000. Hedge funds and other institutional investors own 19.25% of the company's stock.

AllianceBernstein Trading Up 1.4%

Shares of NYSE AB traded up $0.58 during midday trading on Thursday, reaching $41.70. 140,736 shares of the company were exchanged, compared to its average volume of 440,652. The stock has a market cap of $4.62 billion, a P/E ratio of 11.21, a PEG ratio of 3.17 and a beta of 0.82. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $41.99. The stock has a fifty day simple moving average of $40.38 and a 200 day simple moving average of $38.41.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $838.21 million for the quarter, compared to the consensus estimate of $859.36 million. AllianceBernstein had a return on equity of 18.27% and a net margin of 9.44%. During the same period last year, the business posted $0.73 EPS. The company's revenue was down 5.2% on a year-over-year basis. As a group, analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.20 annualized dividend and a yield of 7.67%. AllianceBernstein's dividend payout ratio is currently 86.02%.

Insiders Place Their Bets

In other news, Director Daniel G. Kaye sold 4,825 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $40.80, for a total value of $196,860.00. Following the completion of the sale, the director owned 39,877 shares in the company, valued at approximately $1,626,981.60. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles G.T. Stonehill sold 5,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $41.18, for a total transaction of $205,900.00. Following the transaction, the director owned 20,923 shares in the company, valued at approximately $861,609.14. This trade 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AB has been the subject of a number of research reports. Wall Street Zen raised shares of AllianceBernstein from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. The Goldman Sachs Group downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and reduced their target price for the company from $42.25 to $40.00 in a report on Friday, June 27th. Bank of America cut AllianceBernstein from a "buy" rating to a "neutral" rating and decreased their target price for the company from $42.00 to $38.00 in a research report on Thursday, April 3rd. Sanford C. Bernstein lowered AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price target on the stock. in a research report on Thursday, April 3rd. Finally, Barclays increased their price objective on AllianceBernstein from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, AllianceBernstein presently has a consensus rating of "Hold" and a consensus price target of $37.50.

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.