AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,720 shares of the asset manager’s stock after selling 1,283 shares during the period. Western Wealth Management LLC’s holdings in AllianceBernstein were worth $302,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. purchased a new stake in shares of AllianceBernstein during the fourth quarter worth $349,000. International Assets Investment Management LLC purchased a new stake in shares of AllianceBernstein in the fourth quarter valued at about $1,500,000. Tritonpoint Wealth LLC purchased a new stake in shares of AllianceBernstein in the fourth quarter valued at about $909,000. Chevy Chase Trust Holdings LLC purchased a new stake in shares of AllianceBernstein in the fourth quarter valued at about $279,000. Finally, Chilton Capital Management LLC grew its holdings in shares of AllianceBernstein by 1.3% in the fourth quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager’s stock valued at $1,072,000 after purchasing an additional 448 shares during the period. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AB shares. TheStreet raised shares of AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. TD Cowen reissued a “buy” rating and issued a $40.00 price objective on shares of AllianceBernstein in a report on Tuesday, April 9th. Finally, Evercore ISI reissued a “buy” rating and issued a $38.00 price objective on shares of AllianceBernstein in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.44.

AllianceBernstein Price Performance

Shares of AB stock opened at $33.65 on Tuesday. The firm has a market cap of $3.85 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.25. The company has a 50-day moving average of $33.61 and a two-hundred day moving average of $31.61. AllianceBernstein Holding L.P. has a 1-year low of $25.83 and a 1-year high of $36.13.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $857.85 million. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. Sell-side analysts anticipate that AllianceBernstein Holding L.P. will post 3.04 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 9.15%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. AllianceBernstein’s dividend payout ratio is currently 132.19%.

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.