Concurrent Investment Advisors LLC Grows Position in AllianceBernstein Holding L.P. (NYSE:AB)

Concurrent Investment Advisors LLC boosted its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,815 shares of the asset manager’s stock after acquiring an additional 3,518 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in AllianceBernstein were worth $549,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in AllianceBernstein in the 3rd quarter worth about $31,000. FSA Wealth Management LLC acquired a new stake in AllianceBernstein in the 3rd quarter worth about $36,000. Luken Investment Analytics LLC acquired a new stake in AllianceBernstein in the 4th quarter worth about $37,000. Farther Finance Advisors LLC boosted its stake in AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after buying an additional 764 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in AllianceBernstein in the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Analyst Upgrades and Downgrades

AB has been the topic of a number of research analyst reports. Evercore ISI raised their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays decreased their price target on 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, Sanford C. Bernstein set a $45.00 price objective on AllianceBernstein in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AllianceBernstein has an average rating of “Moderate Buy” and an average price target of $42.83.

AllianceBernstein Price Performance

AllianceBernstein stock opened at $37.59 on Tuesday. The stock’s 50-day moving average is $37.29 and its 200-day moving average is $36.20. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.37.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Research analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.05 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a dividend yield of 11.17%. The ex-dividend date is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is presently 112.90%.

About AllianceBernstein

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.