Strategic Wealth Advisors Group LLC Sells 740 Shares of AllianceBernstein Holding LP (NYSE:AB)

Strategic Wealth Advisors Group LLC reduced its position in shares of AllianceBernstein Holding LP (NYSE:AB) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,965 shares of the asset manager’s stock after selling 740 shares during the period. Strategic Wealth Advisors Group LLC’s holdings in AllianceBernstein were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in AllianceBernstein by 1.4% in the 2nd quarter. Bank of America Corp DE now owns 1,460,582 shares of the asset manager’s stock valued at $43,409,000 after acquiring an additional 19,483 shares during the period. UBS Group AG boosted its stake in shares of AllianceBernstein by 11.0% during the 2nd quarter. UBS Group AG now owns 1,324,574 shares of the asset manager’s stock worth $39,366,000 after acquiring an additional 131,201 shares in the last quarter. Morgan Stanley boosted its stake in shares of AllianceBernstein by 67.1% during the 2nd quarter. Morgan Stanley now owns 1,188,873 shares of the asset manager’s stock worth $35,333,000 after acquiring an additional 477,495 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of AllianceBernstein by 3.4% during the 2nd quarter. Wells Fargo & Company MN now owns 949,123 shares of the asset manager’s stock worth $28,208,000 after acquiring an additional 30,905 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of AllianceBernstein by 9.0% during the 3rd quarter. Foundry Partners LLC now owns 662,472 shares of the asset manager’s stock worth $19,444,000 after acquiring an additional 54,934 shares in the last quarter. 17.67% of the stock is owned by hedge funds and other institutional investors.

NYSE:AB traded down $0.22 on Friday, reaching $29.35. The stock had a trading volume of 316,583 shares, compared to its average volume of 260,531. The company has a 50-day moving average of $28.85 and a 200 day moving average of $28.94. The stock has a market cap of $2.84 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.20. 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 earnings results on Thursday, October 24th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. AllianceBernstein had a net margin of 6.55% and a return on equity of 15.18%. The business had revenue of $877.87 million for the quarter, compared to analyst estimates of $880.27 million. During the same quarter in the prior year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that AllianceBernstein Holding LP will post 2.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 1st. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.56. This represents a $2.52 annualized dividend and a dividend yield of 8.59%. AllianceBernstein’s dividend payout ratio (DPR) is 94.38%.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “hold” rating in a research note on Wednesday. Citigroup lowered their price objective on shares of AllianceBernstein from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th.

About AllianceBernstein

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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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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