Sheaff Brock Investment Advisors LLC Has $202,000 Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Sheaff Brock Investment Advisors LLC reduced its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 24.2% during the first quarter, Holdings Channel.com reports. The fund owned 5,810 shares of the asset manager’s stock after selling 1,855 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in AllianceBernstein were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AB. Stifel Financial Corp lifted its stake in AllianceBernstein by 28.8% in the fourth quarter. Stifel Financial Corp now owns 189,724 shares of the asset manager’s stock valued at $5,887,000 after buying an additional 42,451 shares during the period. Jump Financial LLC lifted its stake in AllianceBernstein by 87.4% in the fourth quarter. Jump Financial LLC now owns 74,400 shares of the asset manager’s stock valued at $2,309,000 after buying an additional 34,699 shares during the period. Nomura Holdings Inc. lifted 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 valued at $7,156,000 after buying an additional 88,000 shares during the period. General American Investors Co. Inc. acquired a new position in AllianceBernstein in the fourth quarter valued at approximately $4,192,000. Finally, Epoch Investment Partners Inc. lifted its stake in AllianceBernstein by 59.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 129,272 shares of the asset manager’s stock valued at $4,011,000 after buying an additional 48,122 shares during the period. 19.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have 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 note on Monday, April 29th. TD Cowen cut their target price on AllianceBernstein from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.69.

AllianceBernstein Trading Up 1.6 %

Shares of AB traded up $0.55 during trading hours on Friday, reaching $34.97. The stock had a trading volume of 691,198 shares, compared to its average volume of 263,677. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $35.45. The firm has a 50-day simple moving average of $33.68 and a 200 day simple moving average of $33.54. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.80 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $807.42 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. AllianceBernstein’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post 2.94 EPS for the current year.

AllianceBernstein Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date of this dividend is Monday, August 5th. AllianceBernstein’s payout ratio is currently 121.16%.

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.