GAM Holding AG Sells 5,818 Shares of AllianceBernstein Holding LP (AB)

Share on StockTwits

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.

TRADEMARK VIOLATION NOTICE: “GAM Holding AG Sells 5,818 Shares of AllianceBernstein Holding LP (AB)” was first posted by Zolmax and is the property of of Zolmax. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://zolmax.com/investing/gam-holding-ag-sells-5818-shares-of-alliancebernstein-holding-lp-ab/2747357.html.

About AllianceBernstein

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.

Recommended Story: Retained Earnings

Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding LP (NYSE:AB).

Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Zacks Investment Research Upgrades AMBEV S A/S  to Hold
Zacks Investment Research Upgrades AMBEV S A/S to Hold
Baytex Energy  Given a C$4.00 Price Target at Raymond James
Baytex Energy Given a C$4.00 Price Target at Raymond James
Painted Pony Energy  Price Target Cut to C$1.75 by Analysts at National Bank Financial
Painted Pony Energy Price Target Cut to C$1.75 by Analysts at National Bank Financial
Remy Cointreau  Upgraded to “Mkt Perform” by Sanford C. Bernstein
Remy Cointreau Upgraded to “Mkt Perform” by Sanford C. Bernstein
Albion Financial Group UT Decreases Position in Schwab U.S. Mid-Cap ETF
Albion Financial Group UT Decreases Position in Schwab U.S. Mid-Cap ETF
Alliancebernstein L.P. Reduces Position in Gentex Co.
Alliancebernstein L.P. Reduces Position in Gentex Co.


Leave a Reply

 
© 2006-2018 Zolmax.