Atria Wealth Solutions Inc. Has $261,000 Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Atria Wealth Solutions Inc. cut its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 63.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,408 shares of the asset manager’s stock after selling 14,693 shares during the period. Atria Wealth Solutions Inc.’s holdings in AllianceBernstein were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in AllianceBernstein by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 127,211 shares of the asset manager’s stock worth $3,861,000 after purchasing an additional 4,482 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of AllianceBernstein by 6.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 148,920 shares of the asset manager’s stock valued at $4,520,000 after acquiring an additional 9,309 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in AllianceBernstein by 28.0% in the third quarter. Stratos Wealth Partners LTD. now owns 11,832 shares of the asset manager’s stock valued at $359,000 after acquiring an additional 2,588 shares during the last quarter. Verus Capital Partners LLC increased its position in AllianceBernstein by 15.9% in the third quarter. Verus Capital Partners LLC now owns 14,261 shares of the asset manager’s stock worth $433,000 after purchasing an additional 1,959 shares during the period. Finally, MGO One Seven LLC increased its position in AllianceBernstein by 27.6% in the third quarter. MGO One Seven LLC now owns 13,232 shares of the asset manager’s stock worth $402,000 after purchasing an additional 2,862 shares during the period. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Price Performance

AllianceBernstein stock opened at $32.32 on Thursday. The company’s 50 day simple moving average is $33.62 and its 200 day simple moving average is $31.87. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.76 and a beta of 1.25. AllianceBernstein Holding L.P. has a fifty-two week low of $25.83 and a fifty-two week high of $35.84.

AllianceBernstein (NYSE:AB) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $857.85 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, analysts predict that AllianceBernstein Holding L.P. will post 2.96 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Monday, May 6th will be given a $0.73 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.92 annualized dividend and a dividend yield of 9.03%. AllianceBernstein’s dividend payout ratio is presently 121.16%.

Wall Street Analysts Forecast Growth

AB has been the topic of a number of research reports. Evercore ISI restated a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research report on Tuesday, March 12th. TheStreet upgraded shares of AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. Bank of America lowered their target price on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, TD Cowen cut their price target on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.19.

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.