MONECO Advisors LLC Purchases Shares of 10,802 AllianceBernstein Holding L.P. (NYSE:AB)

MONECO Advisors LLC purchased a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,802 shares of the asset manager’s stock, valued at approximately $401,000.

A number of other institutional investors have also made changes to their positions in AB. JPMorgan Chase & Co. increased its position in shares of AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after acquiring an additional 265,844 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of AllianceBernstein by 1,019.7% during the third quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock valued at $9,803,000 after acquiring an additional 255,868 shares during the last quarter. Citigroup Inc. increased its position in shares of AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after acquiring an additional 239,941 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of AllianceBernstein during the fourth quarter valued at about $8,695,000. Finally, FMR LLC increased its position in shares of AllianceBernstein by 6.3% during the third 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. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Stock Up 5.2 %

Shares of AB opened at $37.59 on Tuesday. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The firm’s 50 day moving average price is $37.29 and its 200 day moving average price is $36.20. The company has a market cap of $4.16 billion, a P/E ratio of 10.11, a PEG ratio of 0.79 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating 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%. Research analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.17%. AllianceBernstein’s dividend payout ratio is currently 112.90%.

Analyst Upgrades and Downgrades

AB has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Evercore ISI upped their target price 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. Finally, Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.83.

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.