AllianceBernstein Holding L.P. (NYSE:AB) Sees Large Decrease in Short Interest

AllianceBernstein Holding L.P. (NYSE:AB) was the target of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 278,130 shares, a decrease of 20.9% from the January 29th total of 351,727 shares. Based on an average daily trading volume, of 679,805 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s stock are short sold. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 679,805 shares, the days-to-cover ratio is currently 0.4 days.

AllianceBernstein Stock Down 0.9%

AllianceBernstein stock opened at $39.29 on Monday. AllianceBernstein has a 52 week low of $32.28 and a 52 week high of $44.11. The company’s 50 day moving average price is $39.94 and its two-hundred day moving average price is $39.65. The stock has a market cap of $3.63 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.07 and a beta of 0.87.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Thursday, February 5th. The asset manager reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. AllianceBernstein had a return on equity of 21.17% and a net margin of 6.62%.The company had revenue of $957.31 million during the quarter, compared to the consensus estimate of $956.45 million. During the same period last year, the business posted $1.05 earnings per share. AllianceBernstein’s revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date is Friday, February 20th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.86. AllianceBernstein’s dividend payout ratio (DPR) is presently 128.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings upgraded AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Barclays lifted their price target on shares of AllianceBernstein from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Sanford C. Bernstein restated a “neutral” rating on shares of AllianceBernstein in a report on Monday, February 9th. Evercore raised their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Finally, TD Cowen reiterated a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.17.

Institutional Trading of AllianceBernstein

A number of large investors have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC purchased a new position in AllianceBernstein in the fourth quarter valued at about $35,000. Motiv8 Investments LLC bought a new stake in shares of AllianceBernstein in the 4th quarter worth approximately $36,000. Elyxium Wealth LLC purchased a new position in AllianceBernstein in the fourth quarter valued at approximately $51,000. Heritage Wealth Advisors bought a new position in AllianceBernstein during the fourth quarter valued at $52,000. Finally, Ameriflex Group Inc. purchased a new stake in AllianceBernstein in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.