IPG Investment Advisors LLC Has $225,000 Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

IPG Investment Advisors LLC decreased its position in shares of AllianceBernstein Holding L.P. (NYSE:ABFree Report) by 5.2% in the fourth quarter, Holdings Channel reports. The fund owned 7,255 shares of the asset manager’s stock after selling 400 shares during the period. IPG Investment Advisors LLC’s holdings in AllianceBernstein were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AB. Principal Securities Inc. bought a new position in shares of AllianceBernstein in the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in AllianceBernstein in the 4th quarter valued at approximately $27,000. Cape Investment Advisory Inc. increased its position in AllianceBernstein by 198.7% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager’s stock worth $44,000 after buying an additional 950 shares during the period. Anchor Investment Management LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth approximately $105,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of AllianceBernstein by 71.4% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 7,200 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 3,000 shares during the period. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Stock Down 0.7 %

AllianceBernstein stock traded down $0.25 on Tuesday, hitting $33.49. The company’s stock had a trading volume of 95,809 shares, compared to its average volume of 329,392. The company has a fifty day moving average price of $33.66 and a 200-day moving average price of $32.33. The firm has a market cap of $3.86 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25. AllianceBernstein Holding L.P. has a one year low of $25.83 and a one year high of $35.84.

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

AllianceBernstein Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Monday, May 6th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 8.72%. AllianceBernstein’s payout ratio is presently 121.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TheStreet raised shares of AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Evercore ISI restated a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a research report on Tuesday, March 12th. TD Cowen cut their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Bank of America decreased 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, AllianceBernstein presently has a consensus rating of “Moderate Buy” and an average target price of $41.19.

View Our Latest Report on AllianceBernstein

AllianceBernstein 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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