Crestwood Advisors Group LLC Cuts Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Crestwood Advisors Group LLC trimmed its position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,307,396 shares of the asset manager's stock after selling 509,999 shares during the quarter. AllianceBernstein accounts for 1.7% of Crestwood Advisors Group LLC's portfolio, making the stock its 16th largest position. Crestwood Advisors Group LLC owned approximately 2.06% of AllianceBernstein worth $71,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Herold Advisors Inc. raised its holdings in shares of AllianceBernstein by 2.7% during the third quarter. Herold Advisors Inc. now owns 15,200 shares of the asset manager's stock worth $461,000 after acquiring an additional 400 shares during the period. Chilton Capital Management LLC increased its stake in shares of AllianceBernstein by 1.3% during the 4th quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager's stock worth $1,072,000 after purchasing an additional 448 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of AllianceBernstein by 1.6% during the 4th quarter. Alliancebernstein L.P. now owns 30,998 shares of the asset manager's stock worth $1,065,000 after purchasing an additional 488 shares during the last quarter. National Bank of Canada FI increased its stake in shares of AllianceBernstein by 2.2% during the 3rd quarter. National Bank of Canada FI now owns 30,857 shares of the asset manager's stock worth $930,000 after purchasing an additional 651 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of AllianceBernstein by 1.9% during the 3rd quarter. M&T Bank Corp now owns 42,850 shares of the asset manager's stock worth $1,502,000 after purchasing an additional 800 shares during the last quarter. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Trading Up 0.2 %

NYSE AB traded up $0.06 during trading on Friday, reaching $33.15. The company's stock had a trading volume of 292,249 shares, compared to its average volume of 301,357. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.25. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $37.00. The firm has a 50 day moving average price of $33.67 and a 200 day moving average price of $31.51.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post 3.05 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date was Friday, February 16th. This is an increase from AllianceBernstein's previous quarterly dividend of $0.65. AllianceBernstein's dividend payout ratio is 132.19%.

Analysts Set New Price Targets

AB has been the topic of several recent analyst reports. TheStreet upgraded shares of AllianceBernstein from a "c" rating to a "b-" rating in a research note on Friday, March 8th. TD Cowen reaffirmed a "buy" rating and set a $40.00 target price on shares of AllianceBernstein in a report on Tuesday, April 9th. Finally, Evercore ISI reaffirmed a "buy" rating and set a $38.00 target price on shares of AllianceBernstein in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, AllianceBernstein has a consensus rating of "Moderate Buy" and a consensus target price of $40.44.

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.