Natixis Sells 147,100 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Natixis cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,700 shares of the asset manager’s stock after selling 147,100 shares during the period. Natixis owned 0.34% of AllianceBernstein worth $13,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. bought a new position in shares of AllianceBernstein in the fourth quarter worth approximately $26,000. GAMMA Investing LLC bought a new position in shares of AllianceBernstein in the fourth quarter worth approximately $27,000. Geneos Wealth Management Inc. bought a new position in shares of AllianceBernstein in the first quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of AllianceBernstein in the first quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. increased its position in shares of AllianceBernstein by 198.7% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager’s stock worth $44,000 after purchasing an additional 950 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AB. TD Cowen decreased their price objective on shares of AllianceBernstein from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Bank of America reduced their price target on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.69.

AllianceBernstein Price Performance

NYSE AB traded up $0.38 on Thursday, reaching $34.43. 376,100 shares of the company’s stock traded hands, compared to its average volume of 302,527. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $35.43. The stock has a 50-day simple moving average of $33.65 and a 200 day simple moving average of $33.50. The stock has a market cap of $3.96 billion, a PE ratio of 14.47, a P/E/G ratio of 0.81 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $884.18 million during the quarter, compared to analyst estimates of $900.60 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. As a group, analysts anticipate that AllianceBernstein Holding L.P. will post 2.94 EPS for the current year.

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.