Epoch Investment Partners Inc. Grows Position in AllianceBernstein Holding L.P. (NYSE:AB)

Epoch Investment Partners Inc. increased its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 24.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,671 shares of the asset manager’s stock after purchasing an additional 31,399 shares during the period. Epoch Investment Partners Inc. owned approximately 0.14% of AllianceBernstein worth $5,582,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Stifel Financial Corp increased its position in AllianceBernstein by 28.8% in the fourth quarter. Stifel Financial Corp now owns 189,724 shares of the asset manager’s stock worth $5,887,000 after purchasing an additional 42,451 shares during the last quarter. Jump Financial LLC increased its position in AllianceBernstein by 87.4% in the fourth quarter. Jump Financial LLC now owns 74,400 shares of the asset manager’s stock worth $2,309,000 after purchasing an additional 34,699 shares during the last quarter. Nomura Holdings Inc. increased its position in AllianceBernstein by 61.7% during the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock valued at $7,156,000 after acquiring an additional 88,000 shares during the last quarter. General American Investors Co. Inc. bought a new position in AllianceBernstein during the fourth quarter valued at $4,192,000. Finally, Tritonpoint Wealth LLC bought a new position in AllianceBernstein during the fourth quarter valued at $909,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

AB stock opened at $34.97 on Monday. The company has a market capitalization of $4.03 billion, a PE ratio of 14.51, a P/E/G ratio of 0.81 and a beta of 1.24. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $35.45. The firm’s 50-day moving average is $33.68 and its 200 day moving average is $33.56.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $807.42 million. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.90%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. Sell-side analysts forecast that AllianceBernstein Holding L.P. will post 2.94 EPS for the current fiscal year.

AllianceBernstein Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 8.12%. The ex-dividend date is Monday, August 5th. AllianceBernstein’s payout ratio is 117.84%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AB shares. TD Cowen cut their price objective on shares of AllianceBernstein from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Bank of America cut their price objective on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.69.

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.