International Assets Investment Management LLC Takes Position in AllianceBernstein Holding L.P. (NYSE:AB)

International Assets Investment Management LLC purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,545 shares of the asset manager's stock, valued at approximately $1,500,000.

Other hedge funds have also recently bought and sold shares of the company. Herold Advisors Inc. increased its stake in AllianceBernstein by 2.7% during the 3rd quarter. Herold Advisors Inc. now owns 15,200 shares of the asset manager's stock valued at $461,000 after buying an additional 400 shares during the period. Chilton Capital Management LLC increased its position in shares of AllianceBernstein by 1.3% in the fourth quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager's stock worth $1,072,000 after acquiring an additional 448 shares in the last quarter. National Bank of Canada FI lifted its position in shares of AllianceBernstein by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 30,857 shares of the asset manager's stock valued at $930,000 after acquiring an additional 651 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of AllianceBernstein in the 3rd quarter valued at approximately $30,000. Finally, Barclays PLC acquired a new position in AllianceBernstein in the 2nd quarter worth approximately $38,000. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Stock Performance

NYSE:AB traded up $0.62 during mid-day trading on Monday, hitting $33.65. The company had a trading volume of 224,283 shares, compared to its average volume of 339,367. The firm has a market cap of $3.85 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.64 and a beta of 1.25. AllianceBernstein Holding L.P. has a fifty-two week low of $25.83 and a fifty-two week high of $36.13. The business's fifty day moving average is $33.62 and its two-hundred day moving average is $31.59.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, topping 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 company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $857.85 million. During the same period last year, the firm posted $0.70 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that AllianceBernstein Holding L.P. will post 3.04 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.77 per share. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.65. The ex-dividend date was Friday, February 16th. This represents a $3.08 annualized dividend and a dividend yield of 9.15%. AllianceBernstein's payout ratio is 132.19%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AB. Evercore ISI reiterated a "buy" rating and issued a $38.00 target price on shares of AllianceBernstein in a report on Tuesday, March 12th. TheStreet upgraded AllianceBernstein from a "c" rating to a "b-" rating in a research note on Friday, March 8th. Finally, TD Cowen restated a "buy" rating and issued a $40.00 target price on shares of AllianceBernstein in a report on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.44.

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.