Corient Private Wealth LLC Has $774,000 Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Corient Private Wealth LLC increased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,880 shares of the asset manager’s stock after purchasing an additional 1,630 shares during the period. Corient Private Wealth LLC’s holdings in AllianceBernstein were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in shares of AllianceBernstein in the 3rd quarter valued at $31,000. FSA Wealth Management LLC bought a new stake in AllianceBernstein in the third quarter valued at $36,000. Luken Investment Analytics LLC bought a new stake in AllianceBernstein in the fourth quarter valued at $37,000. HHM Wealth Advisors LLC acquired a new position in shares of AllianceBernstein during the fourth quarter valued at about $61,000. Finally, PNC Financial Services Group Inc. grew 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. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Trading Up 0.0 %

Shares of AllianceBernstein stock opened at $38.36 on Friday. The stock has a fifty day simple moving average of $37.84 and a 200 day simple moving average of $36.73. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $41.37. The company has a market capitalization of $4.24 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating 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%. On average, analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 10.95%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio (DPR) is currently 112.90%.

Analyst Ratings Changes

AB has been the topic of several recent research reports. Barclays cut their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Sanford C. Bernstein set a $45.00 price target on shares of AllianceBernstein in a research note on Thursday, January 16th. Finally, TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and raised their price objective for the company from $38.00 to $38.50 in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AllianceBernstein has a consensus rating of “Moderate Buy” and an average target price of $42.75.

About AllianceBernstein

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.