Blue Fin Capital Inc. boosted its position in AllianceBernstein Holding L.P. (NYSE:AB) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 26,383 shares of the asset manager’s stock after buying an additional 600 shares during the period. Blue Fin Capital Inc.’s holdings in AllianceBernstein Holding L.P. were worth $623,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of AllianceBernstein Holding L.P. by 11.7% in the first quarter. Bank of America Corp DE now owns 1,512,976 shares of the asset manager’s stock worth $34,571,000 after buying an additional 159,069 shares during the last quarter. Morgan Stanley boosted its position in AllianceBernstein Holding L.P. by 166.0% in the first quarter. Morgan Stanley now owns 1,258,872 shares of the asset manager’s stock worth $28,765,000 after buying an additional 785,538 shares during the period. Bank of Montreal Can boosted its position in AllianceBernstein Holding L.P. by 9,523.4% in the second quarter. Bank of Montreal Can now owns 444,600 shares of the asset manager’s stock worth $10,514,000 after buying an additional 439,980 shares during the period. UBS Group AG boosted its position in AllianceBernstein Holding L.P. by 107.5% in the first quarter. UBS Group AG now owns 408,841 shares of the asset manager’s stock worth $9,342,000 after buying an additional 211,845 shares during the period. Finally, Foresters Investment Management Company Inc. boosted its position in AllianceBernstein Holding L.P. by 0.4% in the first quarter. Foresters Investment Management Company Inc. now owns 383,600 shares of the asset manager’s stock worth $8,765,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 23.61% of the company’s stock.

AllianceBernstein Holding L.P. (NYSE AB) opened at 23.75 on Friday. AllianceBernstein Holding L.P. has a 52-week low of $20.40 and a 52-week high of $26.15. The firm’s 50-day moving average is $24.26 and its 200-day moving average is $23.05. The company has a market capitalization of $2.22 billion, a PE ratio of 10.91 and a beta of 1.56.

AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The company had revenue of $802.31 million during the quarter, compared to the consensus estimate of $771.88 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that AllianceBernstein Holding L.P. will post $2.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 7th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.96 annualized dividend and a yield of 8.25%. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is currently 89.91%.

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A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday. BidaskClub raised shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Sidoti assumed coverage on shares of AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They set a “buy” rating and a $28.00 price objective for the company. Finally, ValuEngine cut shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.50.

In other news, Director Deborah S. Hechinger sold 10,380 shares of AllianceBernstein Holding L.P. stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $21.02, for a total transaction of $218,187.60. Following the completion of the sale, the director now owns 7,814 shares in the company, valued at approximately $164,250.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott A. Schoen sold 15,627 shares of AllianceBernstein Holding L.P. stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.91, for a total value of $326,760.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 567,462 shares of company stock valued at $13,243,497. 3.40% of the stock is owned by corporate insiders.

AllianceBernstein Holding L.P. Company Profile

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

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Institutional Ownership by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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