Zevin Asset Management LLC Sells 500 Shares of AllianceBernstein Holding LP (NYSE:AB)

Zevin Asset Management LLC lessened its position in shares of AllianceBernstein Holding LP (NYSE:AB) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,675 shares of the asset manager’s stock after selling 500 shares during the period. Zevin Asset Management LLC’s holdings in AllianceBernstein were worth $636,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Bank of America Corp DE raised its position in AllianceBernstein by 1.4% during the second quarter. Bank of America Corp DE now owns 1,460,582 shares of the asset manager’s stock valued at $43,409,000 after purchasing an additional 19,483 shares in the last quarter. UBS Group AG increased its holdings in shares of AllianceBernstein by 11.0% during the second quarter. UBS Group AG now owns 1,324,574 shares of the asset manager’s stock worth $39,366,000 after buying an additional 131,201 shares in the last quarter. Morgan Stanley increased its holdings in shares of AllianceBernstein by 67.1% during the second quarter. Morgan Stanley now owns 1,188,873 shares of the asset manager’s stock worth $35,333,000 after buying an additional 477,495 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of AllianceBernstein by 3.4% during the second quarter. Wells Fargo & Company MN now owns 949,123 shares of the asset manager’s stock worth $28,208,000 after buying an additional 30,905 shares in the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of AllianceBernstein by 9.0% during the third quarter. Foundry Partners LLC now owns 662,472 shares of the asset manager’s stock worth $19,444,000 after buying an additional 54,934 shares in the last quarter. Institutional investors own 17.67% of the company’s stock.

Shares of AllianceBernstein stock traded down $0.22 during trading on Friday, hitting $29.35. The company’s stock had a trading volume of 316,583 shares, compared to its average volume of 260,531. AllianceBernstein Holding LP has a 52 week low of $23.34 and a 52 week high of $31.42. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.20. The stock has a 50-day moving average price of $28.85 and a two-hundred day moving average price of $28.94.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Thursday, October 24th. The asset manager reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $877.87 million for the quarter, compared to analysts’ expectations of $880.27 million. AllianceBernstein had a net margin of 6.55% and a return on equity of 15.18%. AllianceBernstein’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Analysts predict that AllianceBernstein Holding LP will post 2.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 1st. This represents a $2.52 dividend on an annualized basis and a yield of 8.59%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.56. AllianceBernstein’s dividend payout ratio is 94.38%.

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

AllianceBernstein 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.

See Also: Retained Earnings

Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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