Virtu Financial LLC Makes New $1.19 Million Investment in AllianceBernstein Holding L.P. $AB

by · The Markets Daily

Virtu Financial LLC bought a new stake in AllianceBernstein Holding L.P. (NYSE:AB – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,931 shares of the asset manager’s stock, valued at approximately $1,190,000.

Other institutional investors also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC acquired a new position in shares of AllianceBernstein during the 4th quarter worth $35,000. Motiv8 Investments LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $36,000. Elyxium Wealth LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $51,000. Heritage Wealth Advisors purchased a new stake in AllianceBernstein during the fourth quarter worth about $52,000. Finally, Ameriflex Group Inc. purchased a new stake in AllianceBernstein during the fourth quarter worth about $65,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Stock Performance

Shares of NYSE AB opened at $35.95 on Friday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.69 and a beta of 0.80. AllianceBernstein Holding L.P. has a 52 week low of $35.59 and a 52 week high of $44.11. The company’s 50-day moving average price is $37.97 and its 200 day moving average price is $38.93.

AllianceBernstein (NYSE:AB – Get Free Report) last posted its earnings results on Tuesday, April 28th. The asset manager reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The business had revenue of $871.13 million for the quarter, compared to analysts’ expectations of $894.70 million. AllianceBernstein had a net margin of 6.69% and a return on equity of 23.11%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. As a group, research analysts expect that AllianceBernstein Holding L.P. will post 3.46 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Friday, May 8th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Friday, May 8th. AllianceBernstein’s dividend payout ratio (DPR) is 102.15%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AB. Evercore set a $40.00 target price on shares of AllianceBernstein in a report on Monday, June 8th. Weiss Ratings lowered AllianceBernstein from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Sanford C. Bernstein restated an “outperform” rating on shares of AllianceBernstein in a report on Monday, June 8th. Barclays dropped their price objective on AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Finally, TD Cowen reduced their price objective on AllianceBernstein from $39.50 to $39.00 and set a “hold” rating for the company in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.92.

View Our Latest Analysis on AllianceBernstein

About AllianceBernstein

(Free Report)

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.

Featured Stories

Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding L.P. (NYSE:AB – Free Report).