Wilbanks Smith & Thomas Asset Management LLC boosted its stake in AllianceBernstein Holding L.P. (NYSE:AB – Get Rating) by 14.8% during the 4th quarter, HoldingsChannel reports. The fund owned 41,194 shares of the asset manager’s stock after buying an additional 5,306 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in AllianceBernstein were worth $2,012,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AB. AllSquare Wealth Management LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at $33,000. AGF Investments LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at $34,000. PSI Advisors LLC acquired a new stake in AllianceBernstein in the third quarter valued at $35,000. Barclays PLC acquired a new stake in shares of AllianceBernstein during the third quarter worth $38,000. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of AllianceBernstein by 45.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 850 shares of the asset manager’s stock worth $42,000 after purchasing an additional 266 shares during the period. 12.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on AB shares. Citigroup increased their target price on shares of AllianceBernstein from $62.00 to $64.50 and gave the stock a “buy” rating in a report on Wednesday, January 12th. StockNews.com started coverage on shares of AllianceBernstein in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of AllianceBernstein from a “hold” rating to a “sell” rating in a report on Wednesday, March 9th.
AllianceBernstein (NYSE:AB – Get Rating) last released its quarterly earnings results on Friday, April 29th. The asset manager reported $0.90 EPS for the quarter, topping the consensus estimate of $0.84 by $0.06. AllianceBernstein had a net margin of 8.69% and a return on equity of 24.18%. During the same quarter last year, the company earned $0.81 earnings per share. Sell-side analysts expect that AllianceBernstein Holding L.P. will post 3.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Monday, May 9th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, May 6th. This represents a $3.60 annualized dividend and a dividend yield of 9.04%. AllianceBernstein’s dividend payout ratio is currently 132.99%.
About AllianceBernstein (Get Rating)
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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