AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its position in AllianceBernstein Holding L.P. (NYSE:AB) by 64.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,434 shares of the asset manager’s stock after selling 19,220 shares during the period. Johnson Investment Counsel Inc.’s holdings in AllianceBernstein were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in AllianceBernstein in the third quarter valued at approximately $31,000. Luken Investment Analytics LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $37,000. FSA Wealth Management LLC acquired a new stake in AllianceBernstein in the 3rd quarter worth about $36,000. Farther Finance Advisors LLC boosted its stake in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after acquiring an additional 764 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein during the fourth quarter worth $61,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AB has been the subject of several recent research reports. Barclays cut their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. TD Cowen lowered AllianceBernstein from a “buy” rating to a “hold” rating and increased their price objective for the stock from $38.00 to $38.50 in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein set a $45.00 target price on AllianceBernstein in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.75.

AllianceBernstein Stock Down 1.1 %

AB opened at $36.47 on Friday. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.37. The business has a fifty day simple moving average of $37.52 and a 200-day simple moving average of $36.46. The firm has a market cap of $4.03 billion, a P/E ratio of 9.80, a P/E/G ratio of 0.78 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data 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 net margin of 9.46% and a return on equity of 17.88%. Sell-side analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.05 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a dividend yield of 11.52%. The ex-dividend date of this dividend was Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is presently 112.90%.

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.