GAM Holding AG lowered its position in AllianceBernstein Holding LP (NYSE:AB) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,895 shares of the asset manager’s stock after selling 5,818 shares during the quarter. GAM Holding AG’s holdings in AllianceBernstein were worth $1,276,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Lake Street Advisors Group LLC acquired a new position in shares of AllianceBernstein in the 2nd quarter valued at $484,000. Centaurus Financial Inc. acquired a new position in shares of AllianceBernstein in the 2nd quarter valued at $129,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of AllianceBernstein by 7.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 53,330 shares of the asset manager’s stock valued at $1,624,000 after acquiring an additional 3,598 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of AllianceBernstein in the 2nd quarter valued at $157,054,000. Finally, California Public Employees Retirement System increased its holdings in shares of AllianceBernstein by 8.7% in the 2nd quarter. California Public Employees Retirement System now owns 209,488 shares of the asset manager’s stock valued at $5,981,000 after acquiring an additional 16,760 shares during the period. Institutional investors own 19.38% of the company’s stock.
Shares of AllianceBernstein stock opened at $27.60 on Friday. The firm has a market capitalization of $2.89 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. AllianceBernstein Holding LP has a 12 month low of $24.36 and a 12 month high of $31.24.
AllianceBernstein (NYSE:AB) last announced its earnings results on Wednesday, October 24th. The asset manager reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. AllianceBernstein had a net margin of 7.52% and a return on equity of 18.08%. The business had revenue of $850.20 million for the quarter, compared to analysts’ expectations of $701.40 million. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts predict that AllianceBernstein Holding LP will post 2.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 10.00%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, November 2nd. AllianceBernstein’s dividend payout ratio (DPR) is 120.00%.
Separately, Zacks Investment Research cut shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th.
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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