Rothschild Investment Corp IL Lowers Stake in AllianceBernstein Holding LP (AB)

Rothschild Investment Corp IL decreased its stake in shares of AllianceBernstein Holding LP (NYSE:AB) by 13.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 40,440 shares of the asset manager’s stock after selling 6,510 shares during the period. Rothschild Investment Corp IL’s holdings in AllianceBernstein were worth $1,168,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AB. JPMorgan Chase & Co. grew its holdings in AllianceBernstein by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 882,708 shares of the asset manager’s stock valued at $26,879,000 after buying an additional 91,244 shares during the last quarter. FMR LLC grew its holdings in AllianceBernstein by 0.3% in the 4th quarter. FMR LLC now owns 741,736 shares of the asset manager’s stock valued at $20,264,000 after buying an additional 2,007 shares during the last quarter. Foresters Investment Management Company Inc. grew its holdings in AllianceBernstein by 12.1% in the 4th quarter. Foresters Investment Management Company Inc. now owns 626,650 shares of the asset manager’s stock valued at $17,120,000 after buying an additional 67,750 shares during the last quarter. Royce & Associates LP grew its holdings in AllianceBernstein by 0.8% in the 4th quarter. Royce & Associates LP now owns 387,414 shares of the asset manager’s stock valued at $10,584,000 after buying an additional 3,084 shares during the last quarter. Finally, Sadoff Investment Management LLC grew its holdings in AllianceBernstein by 1.6% in the 4th quarter. Sadoff Investment Management LLC now owns 246,525 shares of the asset manager’s stock valued at $6,735,000 after buying an additional 3,850 shares during the last quarter. 18.12% of the stock is currently owned by institutional investors and hedge funds.

AB traded up $0.36 during midday trading on Friday, reaching $29.35. The company’s stock had a trading volume of 221,325 shares, compared to its average volume of 253,815. The firm has a market capitalization of $2.79 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. AllianceBernstein Holding LP has a twelve month low of $23.34 and a twelve month high of $31.42.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). AllianceBernstein had a return on equity of 15.89% and a net margin of 7.01%. The firm had revenue of $795.46 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the business posted $0.73 EPS. AllianceBernstein’s revenue was down 8.3% compared to the same quarter last year. As a group, equities research analysts expect that AllianceBernstein Holding LP will post 2.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a $0.49 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 6.68%. AllianceBernstein’s dividend payout ratio is currently 73.41%.

Separately, Zacks Investment Research raised AllianceBernstein from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, April 16th.

In other AllianceBernstein news, COO James A. Gingrich sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $30.11, for a total value of $451,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO James A. Gingrich sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $29.38, for a total value of $587,600.00. Following the completion of the sale, the chief operating officer now owns 24,909 shares of the company’s stock, valued at approximately $731,826.42. The disclosure for this sale can be found here. Insiders sold a total of 200,514 shares of company stock valued at $6,020,020 in the last quarter. Corporate insiders own 2.70% of the company’s stock.

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About AllianceBernstein

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.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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