AllianceBernstein Holding L.P. (NYSE:AB) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 288,032 shares of the asset manager’s stock after buying an additional 7,071 shares during the period. Crestwood Advisors Group LLC’s holdings in AllianceBernstein were worth $10,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of AllianceBernstein by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock worth $85,633,000 after buying an additional 265,844 shares in the last quarter. Citigroup Inc. boosted its position in AllianceBernstein by 59.1% during the third quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock worth $22,528,000 after acquiring an additional 239,941 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of AllianceBernstein during the fourth quarter worth $8,695,000. FMR LLC boosted its stake in AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock worth $91,181,000 after buying an additional 154,039 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings 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 worth $30,645,000 after acquiring an additional 95,847 shares during the period. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays lowered their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 price objective on AllianceBernstein in a report on Thursday, January 16th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

AllianceBernstein Trading Down 1.2 %

NYSE:AB opened at $35.71 on Monday. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.79 and a beta of 1.21. The firm’s fifty day simple moving average is $37.25 and its 200 day simple moving average is $36.17.

AllianceBernstein (NYSE:AB) last issued its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date is Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio is currently 112.90%.

AllianceBernstein Company 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.