Janney Montgomery Scott LLC Grows Position in AllianceBernstein Holding L.P. (NYSE:AB)

Janney Montgomery Scott LLC grew its stake in shares of AllianceBernstein Holding L.P. (NYSE:ABGet Rating) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,475 shares of the asset manager’s stock after buying an additional 1,976 shares during the period. Janney Montgomery Scott LLC owned 0.19% of AllianceBernstein worth $6,538,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cowa LLC acquired a new stake in shares of AllianceBernstein during the first quarter worth $27,000. CoreCap Advisors LLC acquired a new stake in shares of AllianceBernstein during the second quarter worth $29,000. Truvestments Capital LLC acquired a new stake in shares of AllianceBernstein during the second quarter worth $31,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AllianceBernstein during the second quarter worth $31,000. Finally, Northern Oak Wealth Management Inc. acquired a new stake in shares of AllianceBernstein during the second quarter worth $33,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

AllianceBernstein Price Performance

Shares of AB opened at $36.96 on Monday. The stock’s 50-day moving average is $37.84 and its two-hundred day moving average is $39.65. The stock has a market cap of $3.71 billion, a PE ratio of 10.90 and a beta of 1.35. AllianceBernstein Holding L.P. has a 12 month low of $31.31 and a 12 month high of $52.52.

AllianceBernstein (NYSE:ABGet Rating) last issued its quarterly earnings data on Friday, October 28th. The asset manager reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $987.00 million for the quarter, compared to analysts’ expectations of $1.46 billion. AllianceBernstein had a return on equity of 22.48% and a net margin of 7.75%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, research analysts anticipate that AllianceBernstein Holding L.P. will post 2.78 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date of this dividend was Friday, November 4th. AllianceBernstein’s payout ratio is 75.52%.

Wall Street Analyst Weigh In

AB has been the topic of a number of research analyst reports. StockNews.com initiated coverage on AllianceBernstein in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group lifted their target price on AllianceBernstein from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, October 31st. Finally, The Goldman Sachs Group lifted their target price on AllianceBernstein from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.10.

Insider Transactions at AllianceBernstein

In other news, insider Mark R. Manley sold 5,000 shares of AllianceBernstein stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $40.88, for a total transaction of $204,400.00. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $1,607,973.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Mark R. Manley sold 5,000 shares of AllianceBernstein stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $40.88, for a total transaction of $204,400.00. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $1,607,973.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Karl Sprules sold 77,000 shares of AllianceBernstein stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $38.76, for a total value of $2,984,520.00. Following the sale, the insider now directly owns 68,309 shares in the company, valued at $2,647,656.84. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

AllianceBernstein Profile

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AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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