XTX Topco Ltd acquired a new stake in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,873 shares of the asset manager's stock, valued at approximately $302,000.
A number of other hedge funds have also recently modified their holdings of the stock. FMR LLC grew its position in shares of AllianceBernstein by 19.0% in 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 last quarter. Natixis grew its position in shares of AllianceBernstein by 16.4% in the 4th quarter. Natixis now owns 660,700 shares of the asset manager's stock valued at $24,505,000 after buying an additional 93,300 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of AllianceBernstein by 1.3% in the 4th quarter. Wells Fargo & Company MN now owns 454,891 shares of the asset manager's stock valued at $16,872,000 after buying an additional 5,835 shares during the last quarter. LPL Financial LLC grew its position in shares of AllianceBernstein by 2.6% in the 1st quarter. LPL Financial LLC now owns 380,837 shares of the asset manager's stock valued at $14,590,000 after buying an additional 9,628 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in AllianceBernstein by 8.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 357,445 shares of the asset manager's stock worth $13,258,000 after purchasing an additional 26,577 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on AB shares. Evercore ISI raised their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Sanford C. Bernstein reissued a "mixed" rating on shares of AllianceBernstein in a research report on Wednesday, July 16th. Barclays raised their price objective on shares of AllianceBernstein from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. The Goldman Sachs Group downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $42.25 to $40.00 in a research report on Friday, June 27th. Finally, Wall Street Zen raised shares of AllianceBernstein from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Five investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.67.
Read Our Latest Research Report on AB
AllianceBernstein Stock Up 0.9%
Shares of NYSE:AB opened at $40.47 on Monday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.53 and a beta of 0.81. The firm's 50-day simple moving average is $40.77 and its 200-day simple moving average is $39.05. 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 issued its earnings results on Thursday, July 24th. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). The firm had revenue of $844.43 million during the quarter, compared to analysts' expectations of $853.64 million. AllianceBernstein had a net margin of 8.35% and a return on equity of 18.63%. The firm's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. On average, research analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.
AllianceBernstein Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $3.04 annualized dividend and a dividend yield of 7.5%. AllianceBernstein's payout ratio is presently 90.21%.
AllianceBernstein Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:AB - Free Report).

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