JBR Co Financial Management Inc Has $461,000 Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

JBR Co Financial Management Inc boosted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,033 shares of the asset manager’s stock after purchasing an additional 462 shares during the period. JBR Co Financial Management Inc’s holdings in AllianceBernstein were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in AllianceBernstein by 19.0% during the 4th quarter. FMR LLC now owns 3,110,304 shares of the asset manager’s stock worth $115,361,000 after buying an additional 496,923 shares during the period. JPMorgan Chase & Co. raised its stake in shares of AllianceBernstein by 18.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager’s stock valued at $107,552,000 after acquiring an additional 445,398 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of AllianceBernstein during the fourth quarter worth $10,300,000. Invesco Ltd. bought a new stake in shares of AllianceBernstein in the fourth quarter worth $8,307,000. Finally, Raymond James Financial Inc. acquired a new stake in AllianceBernstein in the fourth quarter valued at $6,683,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Insider Buying and Selling at AllianceBernstein

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America cut shares of AllianceBernstein from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. Wall Street Zen raised shares of AllianceBernstein from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Sanford C. Bernstein lowered AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Thursday, April 3rd. TD Cowen dropped their price objective on AllianceBernstein from $37.50 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI cut their target price on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.67.

AllianceBernstein Trading Down 0.8%

NYSE AB opened at $39.47 on Wednesday. The business has a fifty day simple moving average of $39.33 and a 200 day simple moving average of $37.90. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.86. The firm has a market capitalization of $4.37 billion, a P/E ratio of 10.61, a PEG ratio of 3.10 and a beta of 0.83.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. AllianceBernstein had a net margin of 9.44% and a return on equity of 18.27%. The firm had revenue of $838.21 million during the quarter, compared to analyst estimates of $859.36 million. During the same quarter in the prior year, the business posted $0.73 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th were paid a $0.80 dividend. The ex-dividend date was Monday, May 5th. This represents a $3.20 annualized dividend and a yield of 8.11%. AllianceBernstein’s dividend payout ratio (DPR) is 86.02%.

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.