Short Interest in AllianceBernstein Holding L.P. (NYSE:AB) Declines By 18.7%

AllianceBernstein Holding L.P. (NYSE:AB) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 137,029 shares, a decrease of 18.7% from the December 15th total of 168,473 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 155,088 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 155,088 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. Sanford C. Bernstein reaffirmed a “negative” rating on shares of AllianceBernstein in a report on Thursday. Cowen reiterated a “hold” rating on shares of AllianceBernstein in a research report on Wednesday. Evercore ISI boosted their price target on AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Finally, Bank of America raised their price objective on shares of AllianceBernstein from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AllianceBernstein currently has an average rating of “Hold” and an average price target of $41.83.

AllianceBernstein Price Performance

Shares of AB stock traded up $0.96 during trading hours on Monday, reaching $40.21. 561,174 shares of the company traded hands, compared to its average volume of 167,458. The firm has a 50-day moving average price of $39.76 and a 200 day moving average price of $39.76. The company has a market cap of $3.66 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.15 and a beta of 0.86. AllianceBernstein has a 12-month low of $32.28 and a 12-month high of $43.30.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, October 23rd. The asset manager reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $884.67 million for the quarter, compared to analysts’ expectations of $900.69 million. AllianceBernstein had a net margin of 7.09% and a return on equity of 20.56%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Sell-side analysts predict that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.86 per share. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.76. This represents a $3.44 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Monday, November 3rd. AllianceBernstein’s payout ratio is 113.16%.

Hedge Funds Weigh In On AllianceBernstein

Hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont purchased a new stake in shares of AllianceBernstein during the third quarter worth about $115,000. CWM LLC lifted its holdings in AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock worth $116,000 after purchasing an additional 2,957 shares in the last quarter. Bessemer Group Inc. bought a new position in AllianceBernstein in the 2nd quarter worth approximately $163,000. Joel Adams & Associates Inc. purchased a new stake in AllianceBernstein during the 2nd quarter valued at approximately $204,000. Finally, Tyche Wealth Partners LLC bought a new stake in shares of AllianceBernstein during the second quarter valued at approximately $204,000. Institutional investors own 19.25% of the company’s stock.

About AllianceBernstein

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.