AllianceBernstein Holding LP (NYSE:AB) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,650,000 shares, a growth of 10.0% from the January 15th total of 1,500,000 shares. Based on an average daily trading volume, of 334,000 shares, the days-to-cover ratio is presently 4.9 days. Currently, 1.9% of the company’s stock are sold short.
AB opened at $34.42 on Friday. AllianceBernstein has a 12-month low of $26.29 and a 12-month high of $35.43. The business’s fifty day simple moving average is $32.62 and its 200-day simple moving average is $29.83. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.63 and a beta of 1.16.
AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Wednesday, February 12th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.15. AllianceBernstein had a return on equity of 16.68% and a net margin of 6.78%. The business had revenue of $987.30 million for the quarter, compared to the consensus estimate of $937.41 million. During the same quarter in the prior year, the company earned $0.64 EPS. The business’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts forecast that AllianceBernstein will post 2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $0.85 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, February 21st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.88%. AllianceBernstein’s dividend payout ratio is presently 100.00%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its stake in shares of AllianceBernstein by 1.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 23,644 shares of the asset manager’s stock worth $715,000 after purchasing an additional 350 shares during the last quarter. Formidable Asset Management LLC lifted its stake in shares of AllianceBernstein by 2.1% during the 4th quarter. Formidable Asset Management LLC now owns 19,135 shares of the asset manager’s stock worth $631,000 after purchasing an additional 400 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of AllianceBernstein by 1.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,345 shares of the asset manager’s stock worth $1,402,000 after purchasing an additional 511 shares during the last quarter. American Asset Management Inc. lifted its stake in shares of AllianceBernstein by 6.7% during the 3rd quarter. American Asset Management Inc. now owns 9,572 shares of the asset manager’s stock worth $281,000 after purchasing an additional 600 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its stake in shares of AllianceBernstein by 78.0% during the 4th quarter. Sowell Financial Services LLC now owns 1,506 shares of the asset manager’s stock worth $46,000 after purchasing an additional 660 shares during the last quarter. 17.68% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on AB. Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Monday, December 23rd. Cfra increased their price target on AllianceBernstein from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Citigroup increased their price target on AllianceBernstein from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.
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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