Register Financial Advisors LLC Acquires Shares of 1,218 AllianceBernstein Holding L.P. (NYSE:AB)

Register Financial Advisors LLC bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,218 shares of the asset manager’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KMG Fiduciary Partners LLC boosted its position in AllianceBernstein by 4.5% during the 1st quarter. KMG Fiduciary Partners LLC now owns 41,912 shares of the asset manager’s stock valued at $1,456,000 after buying an additional 1,807 shares during the period. Mather Group LLC. bought a new stake in shares of AllianceBernstein in the first quarter worth about $54,000. Nomura Holdings Inc. increased its holdings in AllianceBernstein by 61.7% during the 4th quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock valued at $7,156,000 after purchasing an additional 88,000 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in AllianceBernstein by 79.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 20,034 shares of the asset manager’s stock valued at $622,000 after purchasing an additional 8,851 shares during the period. Finally, Virtu Financial LLC bought a new position in AllianceBernstein during the 4th quarter valued at approximately $230,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of NYSE AB opened at $33.73 on Friday. The company has a 50 day simple moving average of $33.44 and a two-hundred day simple moving average of $33.18. AllianceBernstein Holding L.P. has a fifty-two week low of $25.83 and a fifty-two week high of $35.43. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.76 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The company had revenue of $884.18 million during the quarter, compared to analyst estimates of $900.60 million. On average, analysts forecast that AllianceBernstein Holding L.P. will post 2.96 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Monday, May 6th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date was Friday, May 3rd. AllianceBernstein’s payout ratio is 121.16%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AB. Evercore ISI reissued a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th. TD Cowen decreased their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating for the company in a report on Monday, April 29th. Bank of America cut their target price on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, TheStreet upgraded shares of AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.19.

AllianceBernstein 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.