Today: California Public Employees Retirement System cuts its investment of stake in AllianceBernstein Holding LP (AB)

Today: California Public Employees Retirement System cuts its investment of stake in AllianceBernstein Holding LP (AB)

California Public Employees Retirement System decreased its stake in AllianceBernstein Holding LP (NYSE:AB) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,700 shares of the company’s stock after selling 11,600 shares during the period. California Public Employees Retirement System’s holdings in AllianceBernstein Holding were worth $4,166,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Texan Capital Management raised its stake in shares of AllianceBernstein Holding by 1.7% in the second quarter. Texan Capital Management now owns 60,435 shares of the company’s stock valued at $1,408,000 after buying an additional 1,000 shares during the period. Investors Capital Advisory Services raised its stake in shares of AllianceBernstein Holding by 18.3% in the second quarter. Investors Capital Advisory Services now owns 13,835 shares of the company’s stock valued at $322,000 after buying an additional 2,142 shares during the period. Boston Private Wealth LLC raised its stake in shares of AllianceBernstein Holding by 3.2% in the second quarter. Boston Private Wealth LLC now owns 10,197 shares of the company’s stock valued at $238,000 after buying an additional 320 shares during the period. Blue Fin Capital Inc. raised its stake in shares of AllianceBernstein Holding by 5.4% in the second quarter. Blue Fin Capital Inc. now owns 15,575 shares of the company’s stock valued at $363,000 after buying an additional 800 shares during the period. Finally, Diligent Investors LLC raised its stake in shares of AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock valued at $296,000 after buying an additional 794 shares during the period. 25.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of AllianceBernstein Holding LP (NYSE:AB) traded down 3.34% on Monday, hitting $23.15. The company’s stock had a trading volume of 212,986 shares. AllianceBernstein Holding LP has a 1-year low of $16.11 and a 1-year high of $25.49. The company has a 50 day moving average of $22.27 and a 200 day moving average of $22.64. The firm has a market cap of $2.19 billion, a PE ratio of 11.45 and a beta of 1.52.

AllianceBernstein Holding (NYSE:AB) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm earned $767.60 million during the quarter, compared to the consensus estimate of $695.26 million. AllianceBernstein Holding had a return on equity of 23.92% and a net margin of 13.27%. AllianceBernstein Holding’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share. Equities analysts forecast that AllianceBernstein Holding LP will post $1.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were issued a $0.45 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 7.52%. This is an increase from AllianceBernstein Holding’s previous quarterly dividend of $0.40. AllianceBernstein Holding’s dividend payout ratio is currently 89.11%.

Several equities research analysts have recently weighed in on the company. Citigroup Inc. lowered AllianceBernstein Holding from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 22nd. Zacks Investment Research raised AllianceBernstein Holding from a “sell” rating to a “hold” rating in a research report on Monday, October 10th. Finally, Keefe, Bruyette & Woods set a $24.00 price target on AllianceBernstein Holding and gave the stock a “hold” rating in a research report on Saturday, October 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $25.76.

About AllianceBernstein Holding

AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services.

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