Jump Financial LLC Buys 34,699 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Jump Financial LLC boosted its position in shares of AllianceBernstein Holding L.P. (NYSE:ABFree Report) by 87.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,400 shares of the asset manager’s stock after purchasing an additional 34,699 shares during the period. Jump Financial LLC’s holdings in AllianceBernstein were worth $2,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AB. Crestwood Advisors Group LLC acquired a new position in AllianceBernstein during the third quarter worth $85,508,000. TCG Advisory Services LLC boosted its stake in shares of AllianceBernstein by 2,811.0% during the 4th quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock worth $6,917,000 after buying an additional 215,270 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AllianceBernstein by 3.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 168,726 shares of the asset manager’s stock valued at $5,121,000 after acquiring an additional 4,886 shares in the last quarter. Stifel Financial Corp increased its position in shares of AllianceBernstein by 4.9% in the third quarter. Stifel Financial Corp now owns 147,273 shares of the asset manager’s stock valued at $4,470,000 after acquiring an additional 6,885 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in AllianceBernstein during the third quarter worth about $4,328,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AB shares. TD Cowen lowered their price target on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Evercore ISI reiterated a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a research note on Tuesday, March 12th. TheStreet upgraded shares of AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Bank of America cut their target price on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, AllianceBernstein currently has an average rating of “Moderate Buy” and an average target price of $41.19.

Read Our Latest Stock Analysis on AB

AllianceBernstein Stock Performance

NYSE AB opened at $32.72 on Tuesday. The stock has a market cap of $3.77 billion, a PE ratio of 13.58, a P/E/G ratio of 0.75 and a beta of 1.25. The firm has a 50-day moving average of $33.64 and a 200-day moving average of $31.98. AllianceBernstein Holding L.P. has a 52-week low of $25.83 and a 52-week high of $35.84.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.92 annualized dividend and a yield of 8.92%. AllianceBernstein’s dividend payout ratio (DPR) is presently 121.16%.

AllianceBernstein Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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