Chiron Investment Management LLC Has $222,000 Stake in AllianceBernstein Holding LP (AB)

Chiron Investment Management LLC grew its position in AllianceBernstein Holding LP (NYSE:AB) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,133 shares of the asset manager’s stock after buying an additional 1,000 shares during the period. Chiron Investment Management LLC’s holdings in AllianceBernstein were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in AB. Cambridge Investment Research Advisors Inc. boosted its stake in AllianceBernstein by 7.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 53,330 shares of the asset manager’s stock valued at $1,624,000 after acquiring an additional 3,598 shares during the period. JPMorgan Chase & Co. boosted its position in shares of AllianceBernstein by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 882,708 shares of the asset manager’s stock worth $26,879,000 after buying an additional 91,244 shares during the period. MML Investors Services LLC acquired a new position in shares of AllianceBernstein during the third quarter worth approximately $229,000. PNC Financial Services Group Inc. boosted its position in shares of AllianceBernstein by 3.7% during the third quarter. PNC Financial Services Group Inc. now owns 86,569 shares of the asset manager’s stock worth $2,637,000 after buying an additional 3,109 shares during the period. Finally, Aviance Capital Partners LLC boosted its position in shares of AllianceBernstein by 6.2% during the third quarter. Aviance Capital Partners LLC now owns 37,684 shares of the asset manager’s stock worth $1,147,000 after buying an additional 2,203 shares during the period. 18.00% of the stock is owned by institutional investors.

Separately, Zacks Investment Research upgraded AllianceBernstein from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th.

Shares of NYSE AB opened at $29.14 on Friday. The company has a market cap of $2.84 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.23. AllianceBernstein Holding LP has a 12-month low of $23.34 and a 12-month high of $31.42.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Wednesday, February 13th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. The business had revenue of $804.66 million during the quarter, compared to the consensus estimate of $706.20 million. AllianceBernstein had a return on equity of 17.10% and a net margin of 7.21%. The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Research analysts anticipate that AllianceBernstein Holding LP will post 2.4 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Monday, February 25th were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, February 22nd. This represents a $2.56 dividend on an annualized basis and a yield of 8.79%. AllianceBernstein’s dividend payout ratio (DPR) is 95.88%.

In other news, insider Axa Equitable Holdings, Inc. bought 254,675 shares of the business’s stock in a transaction on Friday, December 21st. The stock was purchased at an average cost of $24.95 per share, for a total transaction of $6,354,141.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Gingrich sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $29.38, for a total value of $587,600.00. Following the completion of the sale, the chief operating officer now owns 24,909 shares of the company’s stock, valued at $731,826.42. The disclosure for this sale can be found here. Insiders sold 200,514 shares of company stock valued at $6,020,020 over the last 90 days. 2.70% of the stock is currently owned by insiders.

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AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

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Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding LP (NYSE:AB).

Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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