Stifel Financial Corp Has $5.89 Million Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Stifel Financial Corp grew its holdings in shares of AllianceBernstein Holding L.P. (NYSE:ABFree Report) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 189,724 shares of the asset manager’s stock after acquiring an additional 42,451 shares during the period. Stifel Financial Corp owned about 0.17% of AllianceBernstein worth $5,887,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Crestwood Advisors Group LLC bought a new position in AllianceBernstein during the 3rd quarter worth $85,508,000. UBS Group AG lifted its stake in shares of AllianceBernstein by 39.9% in the fourth quarter. UBS Group AG now owns 851,533 shares of the asset manager’s stock worth $26,423,000 after acquiring an additional 242,765 shares during the period. TCG Advisory Services LLC boosted its holdings in AllianceBernstein by 2,811.0% in the fourth quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock valued at $6,917,000 after acquiring an additional 215,270 shares during the last quarter. Nomura Holdings Inc. bought a new position in AllianceBernstein during the 3rd quarter worth approximately $4,328,000. Finally, Nicola Wealth Management LTD. acquired a new position in shares of AllianceBernstein in the 4th quarter worth approximately $2,762,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on AB

AllianceBernstein Price Performance

AB stock opened at $33.39 on Friday. AllianceBernstein Holding L.P. has a 1 year low of $25.83 and a 1 year high of $35.43. The stock has a market capitalization of $3.85 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25. The company’s 50-day moving average is $33.52 and its 200-day moving average is $32.72.

AllianceBernstein (NYSE:ABGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The firm had revenue of $884.18 million during the quarter, compared to analysts’ expectations of $900.60 million. On average, analysts anticipate that AllianceBernstein Holding L.P. will post 2.96 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date was Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is 121.16%.

AllianceBernstein Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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