AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lessened its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 11.7% in the fourth quarter, Holdings Channel reports. The firm owned 9,720 shares of the asset manager’s stock after selling 1,283 shares during the period. Western Wealth Management LLC’s holdings in AllianceBernstein were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new stake in AllianceBernstein in the third quarter valued at approximately $30,000. Barclays PLC acquired a new stake in AllianceBernstein in the second quarter valued at approximately $38,000. Anchor Investment Management LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at approximately $105,000. Gateway Advisory LLC acquired a new stake in AllianceBernstein in the third quarter valued at approximately $273,000. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at approximately $279,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Trading Up 1.9 %

AllianceBernstein stock opened at $33.65 on Tuesday. The stock has a market cap of $3.85 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.25. The stock has a 50 day moving average of $33.61 and a 200-day moving average of $31.61. AllianceBernstein Holding L.P. has a 52 week low of $25.83 and a 52 week high of $36.13.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. AllianceBernstein had a return on equity of 14.88% and a net margin of 6.36%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $857.85 million. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts predict that AllianceBernstein Holding L.P. will post 3.04 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. This represents a $3.08 annualized dividend and a yield of 9.15%. AllianceBernstein’s dividend payout ratio (DPR) is 132.19%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AB. TD Cowen reaffirmed a “buy” rating and issued a $40.00 price objective on shares of AllianceBernstein in a research report on Tuesday, April 9th. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Evercore ISI reiterated a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.