JBR Co Financial Management Inc Buys New Stake in AllianceBernstein Holding L.P. (NYSE:AB)

JBR Co Financial Management Inc bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,571 shares of the asset manager’s stock, valued at approximately $429,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in AllianceBernstein in the third quarter valued at about $31,000. FSA Wealth Management LLC bought a new stake in AllianceBernstein in the third quarter valued at about $36,000. Luken Investment Analytics LLC bought a new stake in AllianceBernstein in the fourth quarter valued at about $37,000. Farther Finance Advisors LLC increased its stake in AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 764 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in AllianceBernstein in the fourth quarter valued at about $61,000. Institutional investors own 19.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AB. Sanford C. Bernstein set a $45.00 price objective on shares of AllianceBernstein in a research note on Thursday, January 16th. Barclays decreased their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Finally, Evercore ISI upped their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

AllianceBernstein Trading Down 1.2 %

Shares of AB stock opened at $35.71 on Friday. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $41.37. The firm’s 50 day moving average is $37.25 and its 200-day moving average is $36.15. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.79 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) 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%. On average, equities research analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.76%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, February 18th. 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.