Capital Advisory Group Advisory Services LLC Acquires Shares of 43,631 AllianceBernstein Holding L.P. (NYSE:AB)

Capital Advisory Group Advisory Services LLC purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 43,631 shares of the asset manager’s stock, valued at approximately $1,618,000.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC bought a new position in AllianceBernstein during the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC bought a new position in shares of AllianceBernstein during the third quarter worth $36,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein in the 4th quarter valued at $37,000. Farther Finance Advisors LLC grew its stake in AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 764 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of AllianceBernstein in the 4th quarter valued at approximately $61,000. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Stock Down 0.5 %

NYSE AB opened at $36.00 on Friday. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37. The stock has a fifty day simple moving average of $37.26 and a 200 day simple moving average of $36.10. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.79 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.77% and a net margin of 9.46%. Research analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a $1.05 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.67%. The ex-dividend date is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is currently 112.90%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

About AllianceBernstein

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.