HUB Investment Partners LLC Has $7.95 Million Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

HUB Investment Partners LLC lowered its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,246 shares of the asset manager’s stock after selling 10,301 shares during the period. HUB Investment Partners LLC owned approximately 0.19% of AllianceBernstein worth $7,946,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Retirement Planning Co of New England Inc. acquired a new stake in AllianceBernstein during the fourth quarter worth approximately $260,000. Horizon Kinetics Asset Management LLC lifted its holdings in shares of AllianceBernstein by 175.5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock valued at $2,644,000 after purchasing an additional 45,413 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of AllianceBernstein by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 20,880 shares of the asset manager’s stock valued at $774,000 after purchasing an additional 1,630 shares in the last quarter. Zevin Asset Management LLC lifted its holdings in shares of AllianceBernstein by 73.8% in the fourth quarter. Zevin Asset Management LLC now owns 10,308 shares of the asset manager’s stock valued at $382,000 after purchasing an additional 4,378 shares in the last quarter. Finally, First National Trust Co bought a new position in shares of AllianceBernstein in the fourth quarter valued at approximately $995,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analyst Ratings Changes

AB has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $45.00 price target on AllianceBernstein in a report on Thursday, January 16th. TD Cowen lowered AllianceBernstein from a “buy” rating to a “hold” rating and lifted their price target for the stock from $38.00 to $38.50 in a report on Tuesday, February 25th. Finally, Barclays dropped their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.75.

AllianceBernstein Stock Performance

Shares of NYSE AB opened at $38.08 on Thursday. The stock has a market cap of $4.21 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The stock has a fifty day moving average of $37.57 and a 200-day moving average of $36.56.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, sell-side analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.05 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 dividend on an annualized basis and a yield of 11.03%. AllianceBernstein’s dividend payout ratio is presently 112.90%.

AllianceBernstein Company 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.