US Bancorp DE Has $377,000 Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

US Bancorp DE lessened its position in AllianceBernstein Holding L.P. (NYSE:AB) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,155 shares of the asset manager’s stock after selling 1,135 shares during the period. US Bancorp DE’s holdings in AllianceBernstein were worth $377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. increased its holdings in AllianceBernstein by 23.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,788 shares of the asset manager’s stock worth $882,000 after purchasing an additional 4,526 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $741,000. Crestwood Advisors Group LLC increased its stake in shares of AllianceBernstein by 2.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock valued at $10,683,000 after buying an additional 7,071 shares during the period. Summit Asset Management LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $202,000. Finally, MONECO Advisors LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $401,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of NYSE:AB opened at $36.47 on Friday. The business’s 50 day simple moving average is $37.52 and its two-hundred day simple moving average is $36.46. The firm has a market cap of $4.03 billion, a P/E ratio of 9.80, a PEG ratio of 0.78 and a beta of 1.25. AllianceBernstein Holding L.P. has a 52-week low of $30.57 and a 52-week high of $41.37.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.52%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. AllianceBernstein’s dividend payout ratio (DPR) is presently 112.90%.

Analyst Ratings Changes

AB has been the topic of several research analyst reports. Sanford C. Bernstein set a $45.00 target price on AllianceBernstein in a research report on Thursday, January 16th. Barclays cut their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, TD Cowen lowered AllianceBernstein from a “buy” rating to a “hold” rating and increased their price target for the stock from $38.00 to $38.50 in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, AllianceBernstein presently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

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.