27,593 Shares in AllianceBernstein Holding L.P. $AB Acquired by Payne Capital Management LLC

Payne Capital Management LLC bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,593 shares of the asset manager’s stock, valued at approximately $1,055,000.

Several other institutional investors have also recently added to or reduced their stakes in AB. Trust Co. of Vermont bought a new position in shares of AllianceBernstein during the 3rd quarter worth approximately $115,000. CWM LLC increased its stake in shares of AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock valued at $116,000 after acquiring an additional 2,957 shares in the last quarter. 44 Wealth Management LLC acquired a new position in shares of AllianceBernstein during the 2nd quarter valued at $204,000. Ausdal Financial Partners Inc. acquired a new position in shares of AllianceBernstein during the 2nd quarter valued at $210,000. Finally, Crumly & Associates Inc. bought a new position in AllianceBernstein during the third quarter worth $210,000. 19.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AB. TD Cowen restated a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Evercore upped their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Sanford C. Bernstein reissued a “neutral” rating on shares of AllianceBernstein in a research report on Monday, February 9th. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Barclays boosted their target price on AllianceBernstein from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AllianceBernstein presently has a consensus rating of “Hold” and an average target price of $42.17.

AllianceBernstein Trading Down 1.4%

AB opened at $37.55 on Thursday. The company’s fifty day moving average price is $39.79 and its two-hundred day moving average price is $39.51. AllianceBernstein Holding L.P. has a 1-year low of $32.28 and a 1-year high of $44.11. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.03 and a beta of 0.87.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $957.31 million during the quarter, compared to analysts’ expectations of $956.45 million. AllianceBernstein had a net margin of 6.62% and a return on equity of 21.17%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. As a group, equities analysts forecast that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were paid a dividend of $0.96 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, February 20th. This represents a $3.84 dividend on an annualized basis and a yield of 10.2%. AllianceBernstein’s dividend payout ratio (DPR) is presently 128.00%.

About AllianceBernstein

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.