Wealth Preservation Advisors LLC Buys Shares of 15,061 AllianceBernstein Holding L.P. $AB

Key Points

• Wealth Preservation Advisors LLC acquired a new stake in AllianceBernstein Holding L.P., purchasing 15,061 shares valued at approximately $577,000 in the first quarter.
• AllianceBernstein's recent earnings report revealed an EPS of $0.76, missing analysts' expectations, with revenue growth of 5.9% year-over-year.
• The company recently declared a quarterly dividend of $0.76 per share, reflecting a dividend yield of 7.6%, while having a payout ratio of 90.21%.

Wealth Preservation Advisors LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,061 shares of the asset manager's stock, valued at approximately $577,000.

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

Wall Street Analysts Forecast Growth

AB has been the subject of several research analyst reports. Sanford C. Bernstein reiterated a "mixed" rating on shares of AllianceBernstein in a research note on Wednesday, July 16th. Wall Street Zen upgraded AllianceBernstein from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Barclays increased their target price on AllianceBernstein from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Evercore ISI increased their target price on AllianceBernstein from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group cut 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 research note on Friday, June 27th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $39.67.

AllianceBernstein Stock Down 0.3%

Shares of AB traded down $0.13 during mid-day trading on Friday, hitting $39.60. The stock had a trading volume of 106,838 shares, compared to its average volume of 170,094. The company has a market cap of $4.38 billion, a PE ratio of 11.75, a PEG ratio of 1.50 and a beta of 0.81. The company's fifty day simple moving average is $40.78 and its two-hundred day simple moving average is $39.22. AllianceBernstein Holding L.P. has a fifty-two week low of $32.28 and a fifty-two week high of $43.30.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.76 earnings per share (EPS) 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 analyst estimates of $853.64 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. Equities 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, August 14th. Investors of record on Monday, August 4th were given a dividend of $0.76 per share. The ex-dividend date was Monday, August 4th. This represents a $3.04 dividend on an annualized basis and a yield of 7.7%. AllianceBernstein's payout ratio is currently 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.