AllianceBernstein Holding L.P. (NYSE:AB) Short Interest Update

AllianceBernstein Holding L.P. (NYSE:AB) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 278,130 shares, a decrease of 20.9% from the January 29th total of 351,727 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 679,805 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 679,805 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

AllianceBernstein Trading Down 0.9%

AB stock opened at $39.29 on Monday. The firm has a 50 day moving average of $39.94 and a 200-day moving average of $39.65. The firm has a market capitalization of $3.63 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $44.11.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $957.31 million for 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 for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. Sell-side analysts predict that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be paid a dividend of $0.96 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.86. This represents a $3.84 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend is Friday, February 20th. AllianceBernstein’s dividend payout ratio is 128.00%.

Institutional Trading of AllianceBernstein

Several institutional investors and hedge funds have recently modified their holdings of the business. KW Wealth Management LLC boosted its position in shares of AllianceBernstein by 36.0% during the 4th quarter. KW Wealth Management LLC now owns 8,687 shares of the asset manager’s stock valued at $334,000 after acquiring an additional 2,299 shares during the last quarter. MidFirst Bank bought a new stake in AllianceBernstein during the fourth quarter valued at approximately $1,491,000. Virtu Financial LLC purchased a new position in AllianceBernstein in the 4th quarter worth approximately $1,190,000. Invesco Ltd. increased its holdings in shares of AllianceBernstein by 5.9% in the 4th quarter. Invesco Ltd. now owns 208,029 shares of the asset manager’s stock worth $8,005,000 after buying an additional 11,586 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of AllianceBernstein in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AB shares. Sanford C. Bernstein restated a “neutral” rating on shares of AllianceBernstein in a research note on Monday, February 9th. Weiss Ratings upgraded shares of AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. TD Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Zacks Research lowered shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Barclays increased their target price on AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, AllianceBernstein presently has a consensus rating of “Hold” and an average price target of $42.17.

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.