Natixis Decreases Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Natixis lessened its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 27.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 387,700 shares of the asset manager’s stock after selling 147,100 shares during the period. Natixis’ holdings in AllianceBernstein were worth $13,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UBS Group AG increased its stake in AllianceBernstein by 39.9% in the fourth quarter. UBS Group AG now owns 851,533 shares of the asset manager’s stock worth $26,423,000 after purchasing an additional 242,765 shares during the period. Jennison Associates LLC purchased a new stake in AllianceBernstein in the first quarter worth $23,660,000. Nomura Holdings Inc. increased its stake in AllianceBernstein by 61.7% in the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock worth $7,156,000 after purchasing an additional 88,000 shares during the period. TCG Advisory Services LLC grew its position in shares of AllianceBernstein by 2,811.0% during the 4th quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock worth $6,917,000 after buying an additional 215,270 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of AllianceBernstein by 13.1% during the 1st quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock worth $7,481,000 after buying an additional 24,951 shares in the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America dropped their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. TD Cowen dropped their price target on AllianceBernstein from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.69.

AllianceBernstein Stock Performance

AB stock traded up $0.38 during trading on Thursday, reaching $34.43. 376,100 shares of the company traded hands, compared to its average volume of 302,527. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $35.43. The business has a 50 day simple moving average of $33.65 and a 200 day simple moving average of $33.50. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.81 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The company had revenue of $884.18 million for the quarter, compared to the consensus estimate of $900.60 million. As a group, research analysts forecast that AllianceBernstein Holding L.P. will post 2.94 EPS for the current year.

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.