AllianceBernstein Holding L.P. (NYSE:AB) Shares Purchased by TCG Advisory Services LLC

TCG Advisory Services LLC raised its position in AllianceBernstein Holding L.P. (NYSE:AB) by 2,811.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 222,928 shares of the asset manager’s stock after buying an additional 215,270 shares during the period. TCG Advisory Services LLC’s holdings in AllianceBernstein were worth $6,917,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AB. Crestwood Advisors Group LLC acquired a new stake in shares of AllianceBernstein in the third quarter valued at about $85,508,000. Nomura Holdings Inc. purchased a new stake in AllianceBernstein in the 3rd quarter valued at $4,328,000. International Assets Investment Management LLC acquired a new stake in shares of AllianceBernstein in the 4th quarter worth $1,500,000. KMG Fiduciary Partners LLC purchased a new position in shares of AllianceBernstein during the 4th quarter worth $1,244,000. Finally, Tritonpoint Wealth LLC acquired a new position in shares of AllianceBernstein during the 4th quarter valued at about $909,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

Shares of NYSE:AB traded up $0.60 on Friday, hitting $33.16. 244,564 shares of the company’s stock were exchanged, compared to its average volume of 338,337. The firm’s 50-day moving average is $33.67 and its 200 day moving average is $31.80. The company has a market capitalization of $3.79 billion, a PE ratio of 13.76, a P/E/G ratio of 0.76 and a beta of 1.25. AllianceBernstein Holding L.P. has a 1-year low of $25.83 and a 1-year high of $35.84.

AllianceBernstein (NYSE:AB) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $857.85 million. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that AllianceBernstein Holding L.P. will post 2.96 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date is Friday, May 3rd. AllianceBernstein’s dividend payout ratio is currently 127.80%.

Analyst Upgrades and Downgrades

AB has been the topic of several recent analyst reports. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Bank of America dropped their price target on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Evercore ISI reiterated a “buy” rating and issued a $38.00 target price on shares of AllianceBernstein in a report on Tuesday, March 12th. Finally, TD Cowen reduced their price target on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.19.

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.