Golden State Wealth Management LLC Buys Shares of 2,575 AllianceBernstein Holding L.P. (NYSE:AB)

Golden State Wealth Management LLC bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,575 shares of the asset manager’s stock, valued at approximately $96,000.

A number of other large investors have also recently made changes to their positions in the stock. Creative Planning grew its stake in AllianceBernstein by 21.5% during the second quarter. Creative Planning now owns 14,536 shares of the asset manager’s stock valued at $491,000 after acquiring an additional 2,569 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of AllianceBernstein during the 2nd quarter valued at $622,000. CWM LLC increased its holdings in shares of AllianceBernstein by 740.7% in the third quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock worth $79,000 after purchasing an additional 2,000 shares during the period. NBC Securities Inc. increased its holdings in shares of AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the period. Finally, KMG Fiduciary Partners LLC raised its position in shares of AllianceBernstein by 4.5% in the third quarter. KMG Fiduciary Partners LLC now owns 46,433 shares of the asset manager’s stock worth $1,620,000 after buying an additional 2,019 shares in the last quarter. 19.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AB shares. Barclays cut their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Evercore ISI boosted their price target 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, AllianceBernstein presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Trading Up 1.5 %

NYSE AB opened at $36.58 on Monday. The stock’s fifty day moving average price is $37.24 and its 200-day moving average price is $36.03. AllianceBernstein Holding L.P. has a 12 month low of $30.57 and a 12 month high of $41.37. The stock has a market cap of $4.21 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.73 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) 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%. As a group, analysts forecast that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.05 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a yield of 11.48%. The ex-dividend date is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is 82.80%.

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.