Private Portfolio Partners LLC Has $681,000 Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Private Portfolio Partners LLC increased its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,359 shares of the asset manager’s stock after acquiring an additional 6,609 shares during the period. Private Portfolio Partners LLC’s holdings in AllianceBernstein were worth $681,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in AllianceBernstein by 20.9% during the third quarter. The Manufacturers Life Insurance Company now owns 330,868 shares of the asset manager’s stock valued at $11,544,000 after buying an additional 57,173 shares in the last quarter. FMR LLC raised its position in shares of AllianceBernstein by 6.3% during the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock valued at $91,181,000 after acquiring an additional 154,039 shares during the last quarter. BNP Paribas Financial Markets raised its stake in AllianceBernstein by 11.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,329 shares of the asset manager’s stock worth $1,093,000 after buying an additional 3,339 shares during the period. Captrust Financial Advisors increased its position in shares of AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after acquiring an additional 355 shares in the last quarter. Finally, Phase 2 Partners LLC bought a new position in shares of AllianceBernstein in the 3rd quarter valued at about $2,125,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AB. Sanford C. Bernstein set a $45.00 price target on AllianceBernstein in a research note on Thursday, January 16th. Barclays lowered their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Finally, TD Cowen cut shares of AllianceBernstein from a “buy” rating to a “hold” rating and upped their price target for the company from $38.00 to $38.50 in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

AllianceBernstein Trading Up 0.3 %

NYSE:AB opened at $38.43 on Wednesday. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37. The company has a market cap of $4.25 billion, a PE ratio of 10.33, a P/E/G ratio of 0.78 and a beta of 1.25. The company’s 50 day moving average is $37.82 and its two-hundred day moving average is $36.86.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. As a group, analysts expect that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently announced 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 represents a $4.20 dividend on an annualized basis and a yield of 10.93%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. AllianceBernstein’s payout ratio is presently 112.90%.

AllianceBernstein 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.