MidFirst Bank purchased a new position in AllianceBernstein Holding L.P. (NYSE:AB – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,750 shares of the asset manager’s stock, valued at approximately $1,491,000.
Other institutional investors have also recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC purchased a new position in AllianceBernstein in the fourth quarter valued at about $35,000. Motiv8 Investments LLC acquired a new stake in shares of AllianceBernstein during the 4th quarter valued at about $36,000. Elyxium Wealth LLC acquired a new stake in shares of AllianceBernstein during the 4th quarter valued at about $51,000. Heritage Wealth Advisors bought a new stake in shares of AllianceBernstein in the 4th quarter valued at approximately $52,000. Finally, Ameriflex Group Inc. bought a new stake in shares of AllianceBernstein in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 19.25% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on AB. TD Cowen dropped their price target on shares of AllianceBernstein from $39.50 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of AllianceBernstein in a report on Monday, June 8th. Weiss Ratings cut shares of AllianceBernstein from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Evercore set a $40.00 target price on shares of AllianceBernstein in a research report on Monday, June 8th. Finally, Zacks Research lowered AllianceBernstein from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.92.
AllianceBernstein Stock Performance
Shares of NYSE:AB opened at $35.95 on Friday. The firm has a market capitalization of $3.36 billion, a PE ratio of 11.06, a PEG ratio of 1.69 and a beta of 0.80. AllianceBernstein Holding L.P. has a 1-year low of $35.59 and a 1-year high of $44.11. The business’s 50 day moving average is $37.97 and its 200-day moving average is $38.93.
AllianceBernstein (NYSE:AB – Get Free Report) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The firm had revenue of $871.13 million during the quarter, compared to the consensus estimate of $894.70 million. AllianceBernstein had a return on equity of 23.11% and a net margin of 6.69%.During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that AllianceBernstein Holding L.P. will post 3.46 EPS for the current year.
AllianceBernstein Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Friday, May 8th were paid a $0.83 dividend. The ex-dividend date was Friday, May 8th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.2%. AllianceBernstein’s dividend payout ratio is currently 102.15%.
AllianceBernstein Profile
AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.
The firm’s roots date back to 1967 with the founding of Sanford C.
See Also
- Five stocks we like better than AllianceBernstein
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:AB – Free Report).
Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.
