Golden State Wealth Management LLC Invests $96,000 in AllianceBernstein Holding L.P. (NYSE:AB)

Golden State Wealth Management LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the fourth quarter, Holdings Channel reports. The fund acquired 2,575 shares of the asset manager’s stock, valued at approximately $96,000.

A number of other institutional investors also recently added to or reduced their stakes in AB. Stratos Wealth Partners LTD. boosted its holdings in shares of AllianceBernstein by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 30,481 shares of the asset manager’s stock valued at $1,131,000 after acquiring an additional 815 shares during the last quarter. Jennison Associates LLC lifted its position in shares of AllianceBernstein by 7.0% during the 4th quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager’s stock valued at $34,852,000 after buying an additional 61,326 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in AllianceBernstein during the fourth quarter valued at $61,000. Luken Investment Analytics LLC acquired a new stake in AllianceBernstein in the 4th quarter worth about $37,000. Finally, New England Research & Management Inc. increased its position in shares of AllianceBernstein by 51.2% during the fourth quarter. New England Research & Management Inc. now owns 15,950 shares of the asset manager’s stock worth $592,000 after purchasing an additional 5,400 shares in the last quarter. Institutional investors own 19.25% of the company’s stock.

Analyst Ratings Changes

AB has been the topic of several analyst reports. Barclays reduced their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Evercore ISI raised their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Stock Up 1.5 %

NYSE:AB opened at $36.58 on Monday. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The stock has a market cap of $4.21 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. The firm’s fifty day simple moving average is $37.24 and its 200-day simple moving average is $36.03.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.77% and a net margin of 9.46%. Equities analysts anticipate that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a dividend yield of 11.48%. AllianceBernstein’s payout ratio is currently 82.80%.

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.