Aptus Capital Advisors LLC Buys 4,273 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Aptus Capital Advisors LLC raised its position in shares of AllianceBernstein Holding L.P. (NYSE:ABFree Report) by 31.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,008 shares of the asset manager’s stock after acquiring an additional 4,273 shares during the period. Aptus Capital Advisors LLC’s holdings in AllianceBernstein were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its position in AllianceBernstein by 84.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,503 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 687 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in AllianceBernstein by 6.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 163,840 shares of the asset manager’s stock worth $5,269,000 after buying an additional 9,886 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in AllianceBernstein during the 2nd quarter valued at about $1,593,000. Epoch Investment Partners Inc. boosted its position in AllianceBernstein by 35.0% in the 2nd quarter. Epoch Investment Partners Inc. now owns 94,360 shares of the asset manager’s stock valued at $3,035,000 after buying an additional 24,456 shares during the period. Finally, Cetera Advisors LLC grew its stake in AllianceBernstein by 11.1% in the 2nd quarter. Cetera Advisors LLC now owns 11,080 shares of the asset manager’s stock worth $356,000 after acquiring an additional 1,107 shares in the last quarter. Hedge funds and other institutional investors own 14.27% of the company’s stock.

AllianceBernstein Stock Up 0.9 %

AllianceBernstein stock opened at $33.21 on Friday. The firm has a market cap of $3.71 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.78 and a beta of 1.26. The business has a fifty day moving average of $31.98 and a two-hundred day moving average of $30.76. AllianceBernstein Holding L.P. has a twelve month low of $25.83 and a twelve month high of $42.00.

AllianceBernstein (NYSE:ABGet Free Report) last issued its quarterly earnings data 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 return on equity of 14.98% and a net margin of 6.36%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $857.85 million. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that AllianceBernstein Holding L.P. will post 2.97 earnings per share for the current year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th will be issued a $0.77 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date is Friday, February 16th. AllianceBernstein’s dividend payout ratio (DPR) is currently 111.59%.

Analyst Ratings Changes

A number of analysts recently issued reports on AB shares. TD Cowen started coverage on AllianceBernstein in a report on Thursday, January 4th. They issued an “outperform” rating and a $36.00 price target for the company. StockNews.com upgraded AllianceBernstein from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

Read Our Latest Stock Analysis on AllianceBernstein

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.

Further Reading

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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