Tepp RIA LLC Takes $233,000 Position in AllianceBernstein Holding L.P. (NYSE:AB)

Tepp RIA LLC acquired a new position 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 acquired 6,283 shares of the asset manager’s stock, valued at approximately $233,000. AllianceBernstein makes up approximately 0.3% of Tepp RIA LLC’s holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AB. Crestwood Advisors Group LLC lifted its position in AllianceBernstein by 2.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock worth $10,683,000 after buying an additional 7,071 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $290,000. Atria Wealth Solutions Inc. bought a new stake in AllianceBernstein during the fourth quarter worth about $277,000. Opal Wealth Advisors LLC acquired a new position in AllianceBernstein during the fourth quarter valued at approximately $264,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in AllianceBernstein by 175.5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock valued at $2,644,000 after purchasing an additional 45,413 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Stock Up 0.0 %

AllianceBernstein stock opened at $38.36 on Friday. The stock has a market cap of $4.24 billion, a PE ratio of 10.31, a P/E/G ratio of 0.78 and a beta of 1.25. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $41.37. The business’s 50-day moving average price is $37.84 and its two-hundred day moving average price is $36.73.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data 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%. As a group, analysts expect 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 was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.05 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 10.95%. AllianceBernstein’s dividend payout ratio (DPR) is 112.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AB shares. Barclays dropped their price objective 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. TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and raised their target price for the company from $38.00 to $38.50 in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein set a $45.00 price target on shares of AllianceBernstein in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.75.

AllianceBernstein 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.