AllianceBernstein Holding L.P. (NYSE:AB) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,032 shares of the asset manager’s stock after purchasing an additional 7,071 shares during the period. Crestwood Advisors Group LLC owned approximately 0.25% of AllianceBernstein worth $10,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Captrust Financial Advisors increased its holdings in AllianceBernstein by 4.9% in the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock valued at $265,000 after buying an additional 355 shares in the last quarter. Second Line Capital LLC lifted its stake in AllianceBernstein by 5.9% in the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock worth $276,000 after purchasing an additional 443 shares in the last quarter. Creative Planning lifted its position in AllianceBernstein by 3.2% during the third quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after buying an additional 469 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of AllianceBernstein by 3.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock valued at $679,000 after acquiring an additional 549 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of AllianceBernstein by 8.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,122 shares of the asset manager’s stock valued at $283,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

Shares of NYSE:AB opened at $35.71 on Monday. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.37. The firm has a market capitalization of $3.95 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.79 and a beta of 1.21. The company’s fifty day moving average price is $37.25 and its 200 day moving average price is $36.17.

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

AllianceBernstein Increases Dividend

The business 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 dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 11.76%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is presently 112.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI raised their price objective on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays cut their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.