AllianceBernstein Holding L.P. (NYSE:AB) Shares Acquired by Lido Advisors LLC

Lido Advisors LLC increased its holdings in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 62,765 shares of the asset manager's stock after acquiring an additional 10,954 shares during the period. Lido Advisors LLC owned approximately 0.05% of AllianceBernstein worth $2,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in AllianceBernstein in the 3rd quarter valued at about $180,000. Franklin Resources Inc. increased its stake in AllianceBernstein by 0.5% during the third quarter. Franklin Resources Inc. now owns 413,165 shares of the asset manager's stock worth $14,919,000 after purchasing an additional 2,000 shares during the period. JPMorgan Chase & Co. lifted its position in shares of AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager's stock worth $85,633,000 after purchasing an additional 265,844 shares in the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of AllianceBernstein in the fourth quarter valued at approximately $214,000. Finally, Ameritas Advisory Services LLC grew its holdings in shares of AllianceBernstein by 3.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 24,119 shares of the asset manager's stock valued at $895,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

AllianceBernstein Price Performance

NYSE AB traded down $0.52 during trading hours on Tuesday, hitting $40.28. The company had a trading volume of 191,493 shares, compared to its average volume of 441,846. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.86. The firm's 50 day moving average is $37.55 and its 200 day moving average is $37.21. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.78 and a beta of 0.85.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $838.21 million for the quarter, compared to analyst estimates of $859.36 million. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. On average, equities analysts anticipate 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, May 22nd. Stockholders of record on Monday, May 5th will be given a $0.80 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.20 annualized dividend and a dividend yield of 7.95%. AllianceBernstein's payout ratio is 86.02%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI reduced their price target on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Barclays boosted their price target on shares of AllianceBernstein from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. StockNews.com cut shares of AllianceBernstein from a "hold" rating to a "sell" rating in a research report on Friday. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their target price for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. Finally, TD Cowen decreased their price target on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $37.67.

About AllianceBernstein

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.