Summit Trail Advisors LLC Purchases New Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Summit Trail Advisors LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,755 shares of the asset manager’s stock, valued at approximately $325,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. NBC Securities Inc. increased its stake in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the last quarter. Truvestments Capital LLC bought a new position in AllianceBernstein during the third quarter valued at $31,000. Luken Investment Analytics LLC purchased a new stake in AllianceBernstein in the fourth quarter worth $37,000. FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein in the third quarter valued at $36,000. Finally, Farther Finance Advisors LLC lifted its position in shares of AllianceBernstein by 115.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after buying an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of AB opened at $35.00 on Thursday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. AllianceBernstein Holding L.P. has a 52-week low of $30.57 and a 52-week high of $41.37. The stock’s 50-day simple moving average is $37.21 and its 200 day simple moving average is $36.04.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.77%. On average, research analysts forecast that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.05 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date of this dividend is Tuesday, February 18th. AllianceBernstein’s payout ratio is 82.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AB shares. Barclays lowered their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Evercore ISI boosted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, AllianceBernstein has an average rating of “Moderate Buy” and an average price target of $42.40.

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.