Captrust Financial Advisors Has $319,000 Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Captrust Financial Advisors boosted its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,597 shares of the asset manager’s stock after buying an additional 1,010 shares during the period. Captrust Financial Advisors’ holdings in AllianceBernstein were worth $319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crestwood Advisors Group LLC raised its holdings in AllianceBernstein by 2.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock worth $10,683,000 after buying an additional 7,071 shares during the period. Perigon Wealth Management LLC acquired a new stake in AllianceBernstein during the 4th quarter worth about $290,000. Atria Wealth Solutions Inc. acquired a new stake in AllianceBernstein during the 4th quarter worth about $277,000. Horizon Kinetics Asset Management LLC raised its holdings in AllianceBernstein by 175.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 71,287 shares of the asset manager’s stock worth $2,644,000 after buying an additional 45,413 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in AllianceBernstein during the 4th quarter worth about $264,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of NYSE AB opened at $40.63 on Wednesday. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.78 and a beta of 0.85. The business has a 50 day simple moving average of $38.25 and a 200 day simple moving average of $37.43. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.86.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $838.21 million during the quarter, compared to analysts’ expectations of $859.36 million. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a yield of 7.88%. AllianceBernstein’s payout ratio is currently 86.02%.

Insiders Place Their Bets

In related news, Director Charles G.T. Stonehill sold 5,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $41.18, for a total value of $205,900.00. Following the completion of the transaction, the director now directly owns 20,923 shares in the company, valued at approximately $861,609.14. This represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel G. Kaye sold 4,825 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $40.80, for a total value of $196,860.00. Following the completion of the transaction, the director now owns 39,877 shares of the company’s stock, valued at $1,626,981.60. The trade was a 10.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

AB has been the topic of several recent analyst reports. Sanford C. Bernstein downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a report on Thursday, April 3rd. Barclays upped their target price on AllianceBernstein from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Bank of America downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. StockNews.com upgraded AllianceBernstein from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Finally, Evercore ISI lowered their price target on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.67.

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.