Rockefeller Capital Management L.P. Sells 20,517 Shares of AllianceBernstein Holding L.P. $AB

Rockefeller Capital Management L.P. lowered its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 32.9% during the 4th quarter, Holdings Channel reports. The firm owned 41,810 shares of the asset manager’s stock after selling 20,517 shares during the period. Rockefeller Capital Management L.P.’s holdings in AllianceBernstein were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in AB. Goldman Sachs Group Inc. raised its stake in shares of AllianceBernstein by 51.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock worth $35,114,000 after purchasing an additional 312,878 shares during the period. Focus Partners Wealth boosted its holdings in shares of AllianceBernstein by 43.5% in the 1st quarter. Focus Partners Wealth now owns 27,375 shares of the asset manager’s stock worth $1,049,000 after buying an additional 8,304 shares during the last quarter. Ausdal Financial Partners Inc. bought a new position in AllianceBernstein during the second quarter valued at about $210,000. Curi Capital LLC bought a new position in AllianceBernstein during the second quarter valued at about $309,000. Finally, HRT Financial LP increased its holdings in AllianceBernstein by 438.1% during the second quarter. HRT Financial LP now owns 108,143 shares of the asset manager’s stock worth $4,415,000 after buying an additional 88,045 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AB has been the topic of several research reports. Weiss Ratings lowered shares of AllianceBernstein from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. TD Cowen lowered their price target on shares of AllianceBernstein from $39.50 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. Barclays lowered their price target on shares of AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Zacks Research downgraded AllianceBernstein from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of AllianceBernstein in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.90.

AllianceBernstein Stock Up 0.4%

NYSE AB opened at $35.23 on Wednesday. The company has a market cap of $3.29 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80. AllianceBernstein Holding L.P. has a 52 week low of $34.92 and a 52 week high of $44.11. The firm’s 50-day simple moving average is $37.55 and its two-hundred day simple moving average is $38.62.

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

AllianceBernstein Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors 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 9.4%. The ex-dividend date was Friday, May 8th. AllianceBernstein’s dividend payout ratio is presently 102.15%.

AllianceBernstein Company Profile

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.