Sei Investments Co. Has $4.66 Million Stake in AllianceBernstein Holding LP (AB)

Sei Investments Co. Has $4.66 Million Stake in AllianceBernstein Holding LP (AB)

A number of other hedge funds and other institutional investors also recently bought and sold shares of AB. Texan Capital Management increased its position in AllianceBernstein Holding by 10.0% in the third quarter. Texan Capital Management now owns 66,475 shares of the asset manager’s stock worth $1,516,000 after buying an additional 6,040 shares during the period. UBS Group AG increased its position in AllianceBernstein Holding by 11.0% in the third quarter. UBS Group AG now owns 191,390 shares of the asset manager’s stock worth $4,363,000 after buying an additional 18,983 shares during the period. D.A. Davidson & CO. increased its position in AllianceBernstein Holding by 426.0% in the third quarter. D.A. Davidson & CO. now owns 110,910 shares of the asset manager’s stock worth $2,528,000 after buying an additional 89,823 shares during the period. First Interstate Bank increased its position in AllianceBernstein Holding by 916.0% in the fourth quarter. First Interstate Bank now owns 6,807 shares of the asset manager’s stock worth $160,000 after buying an additional 6,137 shares during the period. Finally, Trent Capital Management Inc. NC bought a new position in AllianceBernstein Holding during the fourth quarter worth approximately $592,000. 25.70% of the stock is owned by institutional investors and hedge funds.

Sei Investments Co. reduced its position in shares of AllianceBernstein Holding LP (NYSE:AB) by 18.4% during the first quarter, Holdings Channel reports. The firm owned 203,803 shares of the asset manager’s stock after selling 45,900 shares during the period. Sei Investments Co.’s holdings in AllianceBernstein Holding were worth $4,656,000 as of its most recent filing with the SEC.

AllianceBernstein Holding LP (NYSE:AB) opened at 21.80 on Tuesday. AllianceBernstein Holding LP has a 52-week low of $20.40 and a 52-week high of $25.12. The company has a market cap of $2.10 billion, a PE ratio of 10.18 and a beta of 1.45. The firm has a 50-day moving average price of $21.91 and a 200-day moving average price of $22.78.

AllianceBernstein Holding (NYSE:AB) last announced its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $764.92 million for the quarter, compared to analyst estimates of $746.52 million. AllianceBernstein Holding had a return on equity of 23.92% and a net margin of 13.27%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. On average, analysts forecast that AllianceBernstein Holding LP will post $1.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.84 annualized dividend and a dividend yield of 8.44%. AllianceBernstein Holding’s dividend payout ratio (DPR) is presently 89.11%.

AB has been the subject of a number of analyst reports. Zacks Investment Research raised AllianceBernstein Holding from a “sell” rating to a “hold” rating in a research note on Thursday, February 16th. Keefe, Bruyette & Woods raised AllianceBernstein Holding from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Wednesday, April 12th. Finally, Bank of America Corp raised AllianceBernstein Holding from an “underperform” rating to a “buy” rating and boosted their price target for the company from $24.00 to $25.00 in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.00.

In other news, Director Steven G. Elliott sold 11,414 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $20.49, for a total transaction of $233,872.86. Following the transaction, the director now directly owns 15,627 shares in the company, valued at approximately $320,197.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lorie A. Slutsky sold 12,663 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $21.01, for a total value of $266,049.63. Following the transaction, the director now owns 20,166 shares in the company, valued at $423,687.66. The disclosure for this sale can be found here. Insiders have sold a total of 136,232 shares of company stock worth $2,868,074 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

AllianceBernstein Holding Company Profile

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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