Belpointe Asset Management LLC Has $730,000 Position in AllianceBernstein Holding L.P. (NYSE:AB)

Belpointe Asset Management LLC grew its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,182 shares of the asset manager’s stock after buying an additional 712 shares during the quarter. Belpointe Asset Management LLC’s holdings in AllianceBernstein were worth $730,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of AllianceBernstein by 19.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager’s stock valued at $72,000 after buying an additional 319 shares during the period. Sanctuary Advisors LLC boosted its holdings in AllianceBernstein by 3.0% in the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock valued at $679,000 after acquiring an additional 549 shares during the last quarter. Independent Advisor Alliance increased its position in AllianceBernstein by 7.1% in the fourth quarter. Independent Advisor Alliance now owns 9,518 shares of the asset manager’s stock worth $353,000 after purchasing an additional 630 shares during the period. Sequoia Financial Advisors LLC lifted its position in AllianceBernstein by 3.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,930 shares of the asset manager’s stock valued at $739,000 after purchasing an additional 711 shares during the period. Finally, Ameritas Advisory Services LLC boosted its stake in shares of AllianceBernstein by 3.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 24,119 shares of the asset manager’s stock valued at $895,000 after purchasing an additional 766 shares during the last quarter. 19.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein downgraded shares of AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research note on Thursday, April 3rd. Barclays reissued an “equal weight” rating and issued a $34.00 price target on shares of AllianceBernstein in a research note on Tuesday, April 8th. Bank of America cut AllianceBernstein from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $38.00 in a research note on Thursday, April 3rd. Evercore ISI cut their target price on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, TD Cowen decreased their target price on AllianceBernstein from $37.50 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, AllianceBernstein presently has an average rating of “Hold” and an average price target of $37.17.

AllianceBernstein Trading Down 1.7 %

AB stock opened at $37.13 on Wednesday. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.37. The firm has a market cap of $4.10 billion, a PE ratio of 9.98, a P/E/G ratio of 0.78 and a beta of 0.97. The business’s 50-day moving average price is $36.99 and its two-hundred day moving average price is $36.94.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, analysts forecast 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 given 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 11.31%. AllianceBernstein’s dividend payout ratio is currently 112.90%.

AllianceBernstein Company 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.