SMH Capital Advisors Inc. Buys Shares of 36,993 AllianceBernstein Holding L.P. $AB

SMH Capital Advisors Inc. bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,993 shares of the asset manager’s stock, valued at approximately $395,000. AllianceBernstein accounts for about 1.5% of SMH Capital Advisors Inc.’s holdings, making the stock its 19th biggest holding.

Several other hedge funds also recently bought and sold shares of AB. Axiom Investment Management LLC purchased a new stake in shares of AllianceBernstein in the 1st quarter valued at approximately $28,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of AllianceBernstein during the 4th quarter worth approximately $28,000. Ascentis Independent Advisors purchased a new position in shares of AllianceBernstein during the 1st quarter worth approximately $30,000. NFSG Corp increased its holdings in AllianceBernstein by 800.0% in the 1st quarter. NFSG Corp now owns 900 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in AllianceBernstein in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of AB stock opened at $36.68 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.80. The company has a 50 day moving average price of $36.73 and a 200 day moving average price of $38.12. AllianceBernstein Holding L.P. has a fifty-two week low of $34.92 and a fifty-two week high of $44.11.

AllianceBernstein (NYSE:AB) last released its earnings results on Friday, July 31st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%.The business had revenue of $887.55 million for the quarter, compared to analyst estimates of $907.67 million. During the same quarter last year, the company earned $0.76 earnings per share. AllianceBernstein’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts forecast that AllianceBernstein Holding L.P. will post 3.48 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 12th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Wednesday, August 12th. AllianceBernstein’s dividend payout ratio (DPR) is presently 97.04%.

Analyst Ratings Changes

AB has been the topic of a number of research analyst reports. TD Cowen boosted their target price on AllianceBernstein from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Evercore set a $39.00 price target on AllianceBernstein in a research report on Friday, July 10th. Zacks Research raised AllianceBernstein from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Barclays cut their price objective on AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of AllianceBernstein in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, AllianceBernstein currently has an average rating of “Hold” and a consensus price target of $39.50.

Insider Activity

In related news, Director Charles G.T. Stonehill sold 5,000 shares of AllianceBernstein stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total value of $185,850.00. Following the completion of the transaction, the director directly owned 24,573 shares in the company, valued at approximately $913,378.41. This trade represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

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.