Lido Advisors LLC grew its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 21.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,765 shares of the asset manager's stock after purchasing 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 have also added to or reduced their stakes in the company. FMR LLC raised its stake in AllianceBernstein by 19.0% in the fourth quarter. FMR LLC now owns 3,110,304 shares of the asset manager's stock valued at $115,361,000 after purchasing an additional 496,923 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AllianceBernstein by 18.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager's stock valued at $107,552,000 after purchasing an additional 445,398 shares during the last quarter. Four Tree Island Advisory LLC purchased a new stake in AllianceBernstein in the fourth quarter worth approximately $8,695,000. Invesco Ltd. purchased a new position in shares of AllianceBernstein during the fourth quarter worth approximately $8,307,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of AllianceBernstein in the 4th quarter valued at $6,683,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.
AllianceBernstein Price Performance
Shares of NYSE:AB traded down $0.12 during trading on Monday, hitting $40.85. The company's stock had a trading volume of 244,269 shares, compared to its average volume of 442,792. The company has a 50-day moving average of $37.48 and a 200-day moving average of $37.19. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.78 and a beta of 0.85. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.86.
AllianceBernstein (NYSE:AB - Get Free Report) last released 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 17.88% and a net margin of 9.46%. AllianceBernstein's quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, research analysts anticipate 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 will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th will be paid a $0.80 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.83%. AllianceBernstein's dividend payout ratio (DPR) is presently 86.02%.
Analyst Ratings Changes
A number of research firms have recently weighed in on AB. Bank of America lowered AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $38.00 in a research note on Thursday, April 3rd. Evercore ISI cut their target price on shares of AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Sanford C. Bernstein downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research note on Thursday, April 3rd. Barclays lifted their price objective on AllianceBernstein from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Finally, TD Cowen decreased their target price on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $37.67.
Check Out Our Latest Stock Report on AB
About AllianceBernstein
(
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.
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