Sheaff Brock Investment Advisors LLC Acquires 1,000 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Sheaff Brock Investment Advisors LLC boosted its holdings in AllianceBernstein Holding L.P. (NYSE:ABGet Rating) by 21.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,590 shares of the asset manager’s stock after buying an additional 1,000 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in AllianceBernstein were worth $263,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AB. GHP Investment Advisors Inc. bought a new stake in shares of AllianceBernstein during the first quarter valued at approximately $42,000. Blue Fin Capital Inc. increased its position in shares of AllianceBernstein by 2.2% during the first quarter. Blue Fin Capital Inc. now owns 38,884 shares of the asset manager’s stock valued at $1,828,000 after purchasing an additional 848 shares during the period. Trustcore Financial Services LLC increased its position in shares of AllianceBernstein by 17.2% during the fourth quarter. Trustcore Financial Services LLC now owns 8,428 shares of the asset manager’s stock valued at $412,000 after purchasing an additional 1,235 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of AllianceBernstein by 5.8% during the first quarter. Cornerstone Wealth Management LLC now owns 4,967 shares of the asset manager’s stock valued at $234,000 after purchasing an additional 274 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in shares of AllianceBernstein by 10.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 198,427 shares of the asset manager’s stock valued at $9,692,000 after purchasing an additional 18,079 shares during the period. 13.01% of the stock is owned by institutional investors.

AllianceBernstein Trading Down 1.0 %

AB opened at $43.98 on Friday. The stock’s 50 day simple moving average is $42.09 and its 200-day simple moving average is $43.47. AllianceBernstein Holding L.P. has a 1 year low of $35.20 and a 1 year high of $57.54. The stock has a market cap of $4.28 billion, a PE ratio of 11.82 and a beta of 1.30.

AllianceBernstein (NYSE:ABGet Rating) last posted its quarterly earnings data on Friday, July 29th. The asset manager reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The company had revenue of $971.40 million for the quarter. AllianceBernstein had a return on equity of 24.10% and a net margin of 8.30%. AllianceBernstein’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. Equities analysts forecast that AllianceBernstein Holding L.P. will post 2.85 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Monday, August 8th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Friday, August 5th. AllianceBernstein’s dividend payout ratio is currently 96.77%.

Insiders Place Their Bets

In other AllianceBernstein news, insider Mark R. Manley sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $38.98, for a total value of $194,900.00. Following the transaction, the insider now owns 44,334 shares of the company’s stock, valued at $1,728,139.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Mark R. Manley sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $38.98, for a total transaction of $194,900.00. Following the transaction, the insider now owns 44,334 shares of the company’s stock, valued at $1,728,139.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles G.T. Stonehill sold 1,400 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $40.61, for a total value of $56,854.00. Following the transaction, the director now directly owns 19,914 shares in the company, valued at approximately $808,707.54. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

AllianceBernstein Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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