American Century Companies Inc. Has $47.82 Million Stake in AllianceBernstein Holding L.P. $AB

American Century Companies Inc. lessened its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 32.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,171,246 shares of the asset manager’s stock after selling 563,521 shares during the quarter. American Century Companies Inc. owned about 1.06% of AllianceBernstein worth $47,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in AllianceBernstein in the second quarter valued at approximately $193,757,000. 683 Capital Management LLC bought a new stake in AllianceBernstein in the 1st quarter valued at $20,144,000. Goldman Sachs Group Inc. raised its position in AllianceBernstein by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after buying an additional 312,878 shares during the last quarter. Ursa Fund Management LLC bought a new position in AllianceBernstein in the first quarter valued at $7,662,000. Finally, Invesco Ltd. boosted its position in AllianceBernstein by 45.1% during the first quarter. Invesco Ltd. now owns 325,018 shares of the asset manager’s stock valued at $12,451,000 after purchasing an additional 101,041 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AB has been the subject of a number of research analyst reports. Zacks Research upgraded AllianceBernstein from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Bank of America increased their price target on AllianceBernstein from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of AllianceBernstein in a report on Wednesday, October 8th. TD Cowen upped their price target on shares of AllianceBernstein from $36.50 to $40.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Finally, Evercore ISI cut their price objective on shares of AllianceBernstein from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.50.

AllianceBernstein Price Performance

Shares of AB opened at $41.40 on Friday. AllianceBernstein Holding L.P. has a 1-year low of $32.28 and a 1-year high of $43.30. The firm’s 50 day simple moving average is $39.26 and its 200 day simple moving average is $39.88. The company has a market capitalization of $3.77 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.24 and a beta of 0.86.

AllianceBernstein (NYSE:AB) last issued its earnings results on Thursday, October 23rd. The asset manager reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $884.67 million for the quarter, compared to analysts’ expectations of $900.69 million. AllianceBernstein had a net margin of 7.09% and a return on equity of 20.56%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. On average, equities analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 8.3%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, November 3rd. AllianceBernstein’s dividend payout ratio is presently 113.16%.

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.