Tepp RIA LLC Takes $233,000 Position in AllianceBernstein Holding L.P. (NYSE:AB)

Tepp RIA LLC bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the fourth quarter, Holdings Channel.com reports. The fund bought 6,283 shares of the asset manager’s stock, valued at approximately $233,000. AllianceBernstein makes up about 0.3% of Tepp RIA LLC’s holdings, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of AB. Crestwood Advisors Group LLC raised its position in shares of AllianceBernstein by 2.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock worth $10,683,000 after acquiring an additional 7,071 shares in the last quarter. Perigon Wealth Management LLC bought a new position in AllianceBernstein in the fourth quarter worth approximately $290,000. Atria Wealth Solutions Inc. bought a new stake in shares of AllianceBernstein during the fourth quarter valued at approximately $277,000. Opal Wealth Advisors LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth approximately $264,000. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in shares of AllianceBernstein by 175.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock worth $2,644,000 after purchasing an additional 45,413 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AB. Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a research report on Thursday, January 16th. TD Cowen downgraded AllianceBernstein from a “buy” rating to a “hold” rating and increased their price objective for the stock from $38.00 to $38.50 in a research note on Tuesday, February 25th. Finally, Barclays cut 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, AllianceBernstein presently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

AllianceBernstein Trading Up 0.0 %

Shares of AllianceBernstein stock opened at $38.36 on Friday. The firm 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. The business’s fifty day simple moving average is $37.84 and its 200 day simple moving average is $36.73. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.37.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share 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%. Analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.05 dividend. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 annualized dividend and a yield of 10.95%. AllianceBernstein’s dividend payout ratio is presently 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.