AllianceBernstein Holding L.P. (NYSE:AB) Short Interest Update

AllianceBernstein Holding L.P. (NYSE:AB) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 137,029 shares, a decline of 18.7% from the December 15th total of 168,473 shares. Based on an average daily volume of 155,088 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 155,088 shares, the days-to-cover ratio is presently 0.9 days.

AllianceBernstein Trading Down 0.0%

Shares of NYSE AB traded down $0.01 during midday trading on Tuesday, reaching $40.16. The company’s stock had a trading volume of 153,073 shares, compared to its average volume of 240,037. AllianceBernstein has a one year low of $32.28 and a one year high of $43.30. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. The company has a 50 day moving average price of $39.78 and a 200 day moving average price of $39.76.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Thursday, October 23rd. The asset manager reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01. The company had revenue of $884.67 million for the quarter, compared to analysts’ expectations of $900.69 million. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Research analysts anticipate that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 8.6%. The ex-dividend date was Monday, November 3rd. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.76. AllianceBernstein’s dividend payout ratio is presently 113.16%.

Institutional Investors Weigh In On AllianceBernstein

A number of large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new position in AllianceBernstein in the second quarter valued at about $3,135,000. Disciplined Equity Management Inc. grew its stake in shares of AllianceBernstein by 12.1% in the 2nd quarter. Disciplined Equity Management Inc. now owns 60,293 shares of the asset manager’s stock valued at $2,462,000 after buying an additional 6,490 shares in the last quarter. Highland Capital Management LLC increased its holdings in AllianceBernstein by 112.5% in the second quarter. Highland Capital Management LLC now owns 34,915 shares of the asset manager’s stock worth $1,426,000 after buying an additional 18,482 shares during the last quarter. Global Retirement Partners LLC bought a new position in AllianceBernstein during the second quarter valued at approximately $722,000. Finally, Brookwood Investment Group LLC lifted its stake in AllianceBernstein by 76.5% in the second quarter. Brookwood Investment Group LLC now owns 27,344 shares of the asset manager’s stock valued at $1,116,000 after acquiring an additional 11,849 shares during the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America raised their target price on AllianceBernstein from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein reiterated a “negative” rating on shares of AllianceBernstein in a research report on Thursday, January 15th. Zacks Research lowered shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AllianceBernstein in a report on Wednesday, October 8th. Finally, Barclays lowered their target price on AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.83.

AllianceBernstein Company 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.