By otakuyassine3@gmail.com 
Four Tree Island Advisory LLC purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 234,436 shares of the asset manager’s stock, valued at approximately $8,695,000. AllianceBernstein makes up approximately 6.0% of Four Tree Island Advisory LLC’s holdings, making the stock its 8th biggest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AB. Jennison Associates LLC lifted its position in shares of AllianceBernstein by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after buying an additional 95,847 shares in the last quarter. Citigroup Inc. lifted its holdings in AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after purchasing an additional 239,941 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in AllianceBernstein during the fourth quarter valued at $290,000. JPMorgan Chase & Co. grew its position in shares of AllianceBernstein by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after purchasing an additional 265,844 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of AllianceBernstein during the third quarter worth about $671,000. Institutional investors and hedge funds own 19.25% of the company’s stock.
Analysts Set New Price Targets
AB has been the topic of a number of research reports. Evercore ISI raised their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays decreased their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.40.
Check Out Our Latest Report on AllianceBernstein
AllianceBernstein Trading Up 1.5 %
AB opened at $36.58 on Monday. The firm has a market capitalization of $4.21 billion, a PE ratio of 9.83, a PEG ratio of 0.73 and a beta of 1.21. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37. The firm’s 50-day moving average price is $37.24 and its 200 day moving average price is $36.03.
AllianceBernstein (NYSE:AB – Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.77% and a net margin of 9.46%. As a group, analysts predict that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current fiscal year.
AllianceBernstein Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.05 dividend. The ex-dividend date is Tuesday, February 18th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.48%. AllianceBernstein’s dividend payout ratio (DPR) is 82.80%.
AllianceBernstein 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.
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