Lido Advisors LLC Buys 122,727 Shares of AllianceBernstein Holding L.P. $AB

Lido Advisors LLC raised its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 184.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,161 shares of the asset manager’s stock after acquiring an additional 122,727 shares during the quarter. Lido Advisors LLC owned approximately 0.20% of AllianceBernstein worth $6,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AB. D.A. Davidson & CO. raised its position in shares of AllianceBernstein by 15.3% in the 3rd quarter. D.A. Davidson & CO. now owns 184,533 shares of the asset manager’s stock worth $6,437,000 after acquiring an additional 24,501 shares in the last quarter. Cetera Investment Advisers boosted its position in AllianceBernstein by 3.3% during the first quarter. Cetera Investment Advisers now owns 156,695 shares of the asset manager’s stock valued at $5,867,000 after purchasing an additional 5,075 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of AllianceBernstein in the 2nd quarter worth approximately $1,381,000. Royal Bank of Canada grew its holdings in AllianceBernstein by 5.8% in the first quarter. Royal Bank of Canada now owns 115,126 shares of the asset manager’s stock worth $4,311,000 after purchasing an additional 6,263 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in AllianceBernstein by 114.6% during the 1st quarter. Kestra Advisory Services LLC now owns 74,211 shares of the asset manager’s stock worth $2,778,000 after buying an additional 39,636 shares during the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Trading Down 0.8%

AB opened at $33.61 on Friday. AllianceBernstein Holding L.P. has a 12-month low of $33.48 and a 12-month high of $44.11. The firm has a market capitalization of $3.09 billion, a PE ratio of 9.71, a P/E/G ratio of 1.29 and a beta of 0.74. The firm has a 50 day moving average of $35.25 and a two-hundred day moving average of $37.28.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, October 27th. The asset manager reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $904.25 million for the quarter, compared to the consensus estimate of $913.82 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 25.97%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, analysts predict that AllianceBernstein Holding L.P. will post 3.45 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a dividend of $0.88 per share. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date is Friday, November 6th. AllianceBernstein’s payout ratio is presently 104.14%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AB. Weiss Ratings restated a “hold (c)” rating on shares of AllianceBernstein in a research note on Friday, October 30th. Barclays reduced their target price on AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Sanford C. Bernstein reaffirmed a “hold” rating and set a $35.00 price target on shares of AllianceBernstein in a research report on Wednesday, October 28th. Finally, TD Cowen dropped their price target on AllianceBernstein from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.50.

AllianceBernstein Profile

AllianceBernstein L.P. is a global investment management and research firm serving institutional and individual clients. Its offerings include active equity and fixed-income strategies, multi-asset solutions and alternative investments, as well as private wealth management services. The firm was formed in 2000 through the merger of Alliance Capital Management and Sanford C. Bernstein. Headquartered in Nashville, Tennessee, AllianceBernstein serves clients through offices and operations around the world.