Zevin Asset Management LLC Grows Stake in AllianceBernstein Holding L.P. (NYSE:AB)

Zevin Asset Management LLC raised its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 73.8% during the fourth quarter, HoldingsChannel reports. The fund owned 10,308 shares of the asset manager’s stock after buying an additional 4,378 shares during the period. Zevin Asset Management LLC’s holdings in AllianceBernstein were worth $382,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AB. Truvestments Capital LLC purchased a new stake in shares of AllianceBernstein during the third quarter valued at $31,000. FSA Wealth Management LLC purchased a new stake in shares of AllianceBernstein during the third quarter valued at $36,000. Luken Investment Analytics LLC purchased a new stake in shares of AllianceBernstein during the fourth quarter valued at $37,000. HHM Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein during the fourth quarter valued at $61,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of AllianceBernstein by 19.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager’s stock valued at $72,000 after buying an additional 319 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

AB stock opened at $37.07 on Friday. The business’s 50-day moving average is $37.51 and its two-hundred day moving average is $36.47. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 0.78 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Equities analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 11.33%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio (DPR) is 112.90%.

Wall Street Analysts Forecast Growth

AB has been the topic of several recent analyst reports. Sanford C. Bernstein set a $45.00 price objective on AllianceBernstein in a research report on Thursday, January 16th. TD Cowen cut AllianceBernstein from a “buy” rating to a “hold” rating and increased their price objective for the company from $38.00 to $38.50 in a research report on Tuesday, February 25th. Finally, Barclays lowered their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, AllianceBernstein has an average rating of “Moderate Buy” and a consensus target price of $42.75.

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.