Brookwood Investment Group LLC Boosts Stake in AllianceBernstein Holding L.P. $AB

Brookwood Investment Group LLC increased its position in AllianceBernstein Holding L.P. (NYSE:AB) by 76.5% in the 2nd quarter, Holdings Channel reports. The firm owned 27,344 shares of the asset manager’s stock after buying an additional 11,849 shares during the period. Brookwood Investment Group LLC’s holdings in AllianceBernstein were worth $1,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AB. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AllianceBernstein in the 2nd quarter valued at about $193,757,000. 683 Capital Management LLC purchased a new stake in shares of AllianceBernstein in the 1st quarter valued at about $20,144,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of AllianceBernstein in the 1st quarter valued at about $12,309,000. Goldman Sachs Group Inc. lifted its holdings in shares of AllianceBernstein by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after purchasing an additional 312,878 shares during the last quarter. Finally, Ursa Fund Management LLC purchased a new stake in shares of AllianceBernstein in the 1st quarter valued at about $7,662,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Trading Up 0.6%

NYSE AB opened at $39.56 on Monday. The business’s 50 day moving average is $38.90 and its two-hundred day moving average is $39.66. AllianceBernstein Holding L.P. has a 12-month low of $32.28 and a 12-month high of $43.30. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.29 and a beta of 0.82.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, October 23rd. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.01. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.The company had revenue of $884.67 million for the quarter, compared to analysts’ expectations of $900.69 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 8.7%. The ex-dividend date is Monday, November 3rd. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.76. AllianceBernstein’s payout ratio is presently 100.00%.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AllianceBernstein in a research note on Friday. Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a research note on Friday. TD Cowen upped their price objective on AllianceBernstein from $36.50 to $40.00 and gave the company a “hold” rating in a research note on Friday. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Bank of America upped their price objective on AllianceBernstein from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

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.