Vident Advisory LLC Acquires New Holdings in AllianceBernstein Holding L.P. $AB

Key Points

• Vident Advisory LLC acquired 13,467 shares of AllianceBernstein Holding L.P. in the first quarter, valued at approximately $516,000.
• AllianceBernstein reported earnings of $0.76 per share for the last quarter, which missed the consensus estimate and reflected a 5.9% year-over-year revenue increase.
• The firm's quarterly dividend was $0.76, equating to a 7.8% dividend yield with a payout ratio of 90.21%.

Vident Advisory LLC acquired 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 and Exchange Commission. The institutional investor acquired 13,467 shares of the asset manager's stock, valued at approximately $516,000.

Other hedge funds also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in AllianceBernstein in the 1st quarter valued at $32,000. Mountain Hill Investment Partners Corp. bought a new position in AllianceBernstein in the 1st quarter valued at $38,000. Harbor Investment Advisory LLC bought a new position in AllianceBernstein in the 1st quarter valued at $48,000. Costello Asset Management INC bought a new position in AllianceBernstein in the 1st quarter valued at $73,000. Finally, Zions Bancorporation National Association UT bought a new position in AllianceBernstein in the 1st quarter valued at $77,000. Institutional investors own 19.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AB shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of AllianceBernstein in a research report on Friday, September 5th. Zacks Research downgraded AllianceBernstein from a "strong-buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $42.25 to $40.00 in a research report on Friday, June 27th. Evercore ISI dropped their price target on AllianceBernstein from $46.00 to $44.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. Finally, Barclays increased their price target on AllianceBernstein from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, AllianceBernstein has an average rating of "Hold" and an average price target of $39.33.

AllianceBernstein Price Performance

Shares of NYSE:AB traded down $0.48 during trading hours on Friday, hitting $37.88. The company's stock had a trading volume of 164,873 shares, compared to its average volume of 166,814. AllianceBernstein Holding L.P. has a 52 week low of $32.28 and a 52 week high of $43.30. The firm's fifty day moving average price is $40.38 and its 200 day moving average price is $39.35. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.45 and a beta of 0.84.

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

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $3.04 dividend on an annualized basis and a yield of 8.0%. AllianceBernstein's dividend payout ratio (DPR) is presently 90.21%.

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.