California Public Employees Retirement System decreased its position in AllianceBernstein Holding LP (NYSE:AB) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,752 shares of the asset manager’s stock after selling 6,141 shares during the quarter. California Public Employees Retirement System owned 0.19% of AllianceBernstein worth $5,102,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in AllianceBernstein by 7.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 53,330 shares of the asset manager’s stock valued at $1,624,000 after buying an additional 3,598 shares during the last quarter. JPMorgan Chase & Co. raised its position in AllianceBernstein by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 882,708 shares of the asset manager’s stock valued at $26,879,000 after buying an additional 91,244 shares during the last quarter. MML Investors Services LLC purchased a new stake in AllianceBernstein in the 3rd quarter valued at $229,000. PNC Financial Services Group Inc. raised its position in AllianceBernstein by 3.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 86,569 shares of the asset manager’s stock valued at $2,637,000 after buying an additional 3,109 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its position in AllianceBernstein by 6.2% in the 3rd quarter. Aviance Capital Partners LLC now owns 37,684 shares of the asset manager’s stock valued at $1,147,000 after buying an additional 2,203 shares during the last quarter. 18.00% of the stock is currently owned by institutional investors.
In other AllianceBernstein news, insider Axa Equitable Holdings, Inc. bought 254,675 shares of the firm’s stock in a transaction dated Friday, December 21st. The stock was purchased at an average cost of $24.95 per share, with a total value of $6,354,141.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James A. Gingrich sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $30.35, for a total value of $758,750.00. Following the sale, the chief operating officer now directly owns 69,909 shares of the company’s stock, valued at $2,121,738.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,514 shares of company stock valued at $6,020,020. Insiders own 2.70% of the company’s stock.
Separately, Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “hold” rating in a research report on Wednesday.
NYSE AB opened at $29.14 on Friday. The firm has a market capitalization of $2.84 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.86 and a beta of 1.23. AllianceBernstein Holding LP has a 12 month low of $23.34 and a 12 month high of $31.42.
AllianceBernstein (NYSE:AB) last announced its earnings results on Wednesday, February 13th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. AllianceBernstein had a return on equity of 17.10% and a net margin of 7.21%. The firm had revenue of $804.66 million during the quarter, compared to analyst estimates of $706.20 million. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts anticipate that AllianceBernstein Holding LP will post 2.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Monday, February 25th were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 8.79%. The ex-dividend date was Friday, February 22nd. AllianceBernstein’s dividend payout ratio is presently 95.88%.
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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