Tepp RIA LLC Buys 1,400 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Tepp RIA LLC lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 22.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,683 shares of the asset manager’s stock after acquiring an additional 1,400 shares during the quarter. AllianceBernstein makes up approximately 0.4% of Tepp RIA LLC’s investment portfolio, making the stock its 21st largest position. Tepp RIA LLC’s holdings in AllianceBernstein were worth $294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AB. FMR LLC grew its stake in AllianceBernstein by 19.0% in the fourth quarter. FMR LLC now owns 3,110,304 shares of the asset manager’s stock valued at $115,361,000 after purchasing an additional 496,923 shares in the last quarter. American Century Companies Inc. raised its stake in shares of AllianceBernstein by 1.1% during the 4th quarter. American Century Companies Inc. now owns 3,026,102 shares of the asset manager’s stock worth $112,238,000 after purchasing an additional 33,888 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AllianceBernstein by 18.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager’s stock valued at $107,552,000 after buying an additional 445,398 shares during the last quarter. Natixis grew its stake in shares of AllianceBernstein by 16.4% in the fourth quarter. Natixis now owns 660,700 shares of the asset manager’s stock valued at $24,505,000 after buying an additional 93,300 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of AllianceBernstein by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 454,891 shares of the asset manager’s stock valued at $16,872,000 after buying an additional 5,835 shares in the last quarter. Institutional investors own 19.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of AllianceBernstein from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Evercore ISI dropped their target price on shares of AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Sanford C. Bernstein downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. 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, Wall Street Zen upgraded AllianceBernstein from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.67.

Insider Buying and Selling

In other news, Director Charles G.T. Stonehill sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $41.18, for a total transaction of $205,900.00. Following the transaction, the director now directly owns 20,923 shares of the company’s stock, valued at approximately $861,609.14. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel G. Kaye sold 4,825 shares of AllianceBernstein stock in a transaction that occurred on 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 sale, the director now owns 39,877 shares of the company’s stock, valued at approximately $1,626,981.60. The trade was a 10.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

AllianceBernstein Stock Performance

NYSE AB opened at $40.94 on Friday. The stock has a market cap of $4.53 billion, a PE ratio of 11.00, a P/E/G ratio of 3.15 and a beta of 0.83. The firm has a 50-day moving average of $39.82 and a 200-day moving average of $38.10. AllianceBernstein Holding L.P. has a 52-week low of $30.57 and a 52-week high of $41.86.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $859.36 million. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.82%. AllianceBernstein’s dividend payout ratio (DPR) is currently 86.02%.

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.