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

AllianceBernstein Holding L.P. (NYSE:AB) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 351,727 shares, an increase of 264.7% from the January 15th total of 96,445 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 604,948 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 604,948 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the company’s stock are sold short.

AllianceBernstein Stock Down 0.1%

AB traded down $0.06 during midday trading on Wednesday, hitting $39.86. 224,449 shares of the company were exchanged, compared to its average volume of 500,529. The firm’s 50 day moving average price is $40.07 and its 200-day moving average price is $39.71. AllianceBernstein has a 1-year low of $32.28 and a 1-year high of $44.11. The firm has a market capitalization of $3.63 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.16 and a beta of 0.87.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, February 5th. The asset manager reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. AllianceBernstein had a return on equity of 19.69% and a net margin of 6.62%.The business had revenue of $957.31 million for the quarter, compared to analysts’ expectations of $956.45 million. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.96 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.84 annualized dividend and a dividend yield of 9.6%. AllianceBernstein’s dividend payout ratio is 114.67%.

Wall Street Analyst Weigh In

AB has been the topic of a number of recent research reports. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Evercore increased their target price on AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Sanford C. Bernstein reaffirmed a “neutral” rating on shares of AllianceBernstein in a research note on Monday. Barclays increased their target price on shares of AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Finally, TD Cowen reissued a “hold” rating on shares of AllianceBernstein in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.17.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of AllianceBernstein in the 2nd quarter valued at about $3,135,000. Disciplined Equity Management Inc. lifted its stake in shares of AllianceBernstein by 12.1% in the second quarter. Disciplined Equity Management Inc. now owns 60,293 shares of the asset manager’s stock valued at $2,462,000 after buying an additional 6,490 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in shares of AllianceBernstein by 131.6% during the third quarter. Moody Aldrich Partners LLC now owns 137,341 shares of the asset manager’s stock valued at $5,249,000 after buying an additional 78,047 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of AllianceBernstein during the second quarter worth about $722,000. Finally, Horizon Kinetics Asset Management LLC increased its position in shares of AllianceBernstein by 42.2% during the second quarter. Horizon Kinetics Asset Management LLC now owns 164,892 shares of the asset manager’s stock worth $6,733,000 after acquiring an additional 48,906 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

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.