Opal Wealth Advisors LLC Takes Position in AllianceBernstein Holding L.P. (NYSE:AB)

Opal Wealth Advisors LLC acquired a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,111 shares of the asset manager’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning grew its position in shares of AllianceBernstein by 21.5% during the 2nd quarter. Creative Planning now owns 14,536 shares of the asset manager’s stock valued at $491,000 after purchasing an additional 2,569 shares in the last quarter. Sanctuary Advisors LLC bought a new position in AllianceBernstein in the 2nd quarter worth about $622,000. CWM LLC raised its holdings in shares of AllianceBernstein by 740.7% in the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 2,000 shares in the last quarter. NBC Securities Inc. boosted its position in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 329 shares during the last quarter. Finally, KMG Fiduciary Partners LLC boosted its position in shares of AllianceBernstein by 4.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 46,433 shares of the asset manager’s stock valued at $1,620,000 after acquiring an additional 2,019 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $36.58 on Monday. AllianceBernstein Holding L.P. has a one year low of $30.57 and a one year high of $41.37. The business’s 50 day simple moving average is $37.24 and its two-hundred day simple moving average is $36.03. The stock has a market capitalization of $4.21 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.77%. Sell-side analysts expect that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 11.48%. The ex-dividend date is Tuesday, February 18th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s payout ratio is currently 82.80%.

Analyst Ratings Changes

A number of research analysts recently commented on AB shares. Barclays reduced their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.