1 day Ago By ABMN Staff
Sei Investments Co. raised its position in shares of AllianceBernstein Holding L.P.
( NYSE:AB – Free Report ) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 156,750 shares of the asset manager’s stock after purchasing an additional 12,674 shares during the quarter.
Sei Investments Co. owned 0.14% of AllianceBernstein worth $5,814,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its position in shares of AllianceBernstein by 1.
1% during the 4th quarter. American Century Companies Inc. now owns 3,026,102 shares of the asset manager’s stock valued at $112,238,000 after acquiring an additional 33,888 shares during the period.
Retirement Planning Co of New England Inc. bought a new stake in AllianceBernstein during the fourth quarter valued at about $260,000. Horizon Kinetics Asset Management LLC increased its position in AllianceBernstein by 175.
5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock worth $2,644,000 after buying an additional 45,413 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of AllianceBernstein by 8.
5% in the fourth quarter. Corient Private Wealth LLC now owns 20,880 shares of the asset manager’s stock worth $774,000 after buying an additional 1,630 shares during the period. Finally, Zevin Asset Management LLC lifted its position in shares of AllianceBernstein by 73.
8% during the 4th quarter. Zevin Asset Management LLC now owns 10,308 shares of the asset manager’s stock valued at $382,000 after buying an additional 4,378 shares in the last quarter. Hedge funds and other institutional investors own 19.
25% of the company’s stock. Analyst Upgrades and Downgrades Several equities research analysts recently issued reports on the stock. TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and increased their target price for the stock from $38.
00 to $38.50 in a report on Tuesday, February 25th. Barclays decreased their price objective on shares of AllianceBernstein from $39.
00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, Sanford C.
Bernstein set a $45.00 target price on shares of AllianceBernstein in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company.
According to MarketBeat.com, AllianceBernstein presently has an average rating of “Moderate Buy” and an average target price of $42.75.
AllianceBernstein Price Performance AllianceBernstein stock opened at $38.43 on Wednesday. The firm’s 50 day moving average price is $37.
82 and its 200-day moving average price is $36.86. AllianceBernstein Holding L.
P. has a 1 year low of $30.57 and a 1 year high of $41.
37. The stock has a market cap of $4.25 billion, a P/E ratio of 10.
33, a PEG ratio of 0.78 and a beta of 1.25.
AllianceBernstein ( NYSE:AB – Get Free Report ) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $0.
87 by $0.18. AllianceBernstein had a net margin of 9.
46% and a return on equity of 17.88%. As a group, equities analysts expect that AllianceBernstein Holding L.
P. will post 3.58 EPS for the current year.
AllianceBernstein Increases Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share.
This represents a $4.20 annualized dividend and a yield of 10.93%.
The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77.
AllianceBernstein’s dividend payout ratio (DPR) is currently 112.90%. About AllianceBernstein ( Free Report ) 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. Featured Stories 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 .
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