Brookwood Investment Group LLC Sells 14,749 Shares of AllianceBernstein Holding L.P. $AB

Brookwood Investment Group LLC cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 55.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,015 shares of the asset manager’s stock after selling 14,749 shares during the period. Brookwood Investment Group LLC’s holdings in AllianceBernstein were worth $462,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AB. Trust Co. of Vermont acquired a new stake in AllianceBernstein during the third quarter worth approximately $115,000. CWM LLC lifted its position in AllianceBernstein by 4,164.8% during the third quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock worth $116,000 after acquiring an additional 2,957 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in AllianceBernstein during the fourth quarter worth approximately $204,000. 44 Wealth Management LLC acquired a new stake in AllianceBernstein during the second quarter worth approximately $204,000. Finally, Crumly & Associates Inc. acquired a new stake in AllianceBernstein during the third quarter worth approximately $210,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AB. Sanford C. Bernstein set a $39.50 price objective on shares of AllianceBernstein and gave the stock a “hold” rating in a research report on Thursday. TD Cowen restated a “hold” rating on shares of AllianceBernstein in a research report on Wednesday, January 14th. Barclays raised their price objective on shares of AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded shares of AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.58.

AllianceBernstein Trading Down 0.6%

NYSE AB opened at $38.04 on Friday. AllianceBernstein Holding L.P. has a 1-year low of $35.59 and a 1-year high of $44.11. The company has a 50 day moving average of $38.91 and a 200-day moving average of $39.38. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.75 and a beta of 0.86.

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

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 10.1%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, February 20th. AllianceBernstein’s payout ratio is 128.00%.

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.