GAM Holding AG reduced its position in shares of AllianceBernstein Holding LP (NYSE:AB) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,895 shares of the asset manager’s stock after selling 5,818 shares during the period. GAM Holding AG’s holdings in AllianceBernstein were worth $1,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AB. Wells Fargo & Company MN boosted its stake in AllianceBernstein by 8.0% during the second quarter. Wells Fargo & Company MN now owns 1,158,794 shares of the asset manager’s stock worth $33,084,000 after buying an additional 85,608 shares during the period. JPMorgan Chase & Co. boosted its stake in AllianceBernstein by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 882,708 shares of the asset manager’s stock worth $26,879,000 after buying an additional 91,244 shares during the period. FMR LLC boosted its stake in AllianceBernstein by 0.8% during the second quarter. FMR LLC now owns 739,729 shares of the asset manager’s stock worth $21,119,000 after buying an additional 5,715 shares during the period. First Republic Investment Management Inc. boosted its stake in AllianceBernstein by 249.4% during the second quarter. First Republic Investment Management Inc. now owns 223,489 shares of the asset manager’s stock worth $6,380,000 after buying an additional 159,529 shares during the period. Finally, California Public Employees Retirement System boosted its stake in AllianceBernstein by 8.7% during the second quarter. California Public Employees Retirement System now owns 209,488 shares of the asset manager’s stock worth $5,981,000 after buying an additional 16,760 shares during the period. Hedge funds and other institutional investors own 19.38% of the company’s stock.

NYSE AB opened at $27.60 on Friday. AllianceBernstein Holding LP has a one year low of $24.36 and a one year high of $31.24. The company has a market capitalization of $2.89 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, October 24th. The asset manager reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. AllianceBernstein had a net margin of 7.52% and a return on equity of 18.08%. The business had revenue of $850.20 million during the quarter, compared to analyst estimates of $701.40 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that AllianceBernstein Holding LP will post 2.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were paid a $0.69 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, November 2nd. This represents a $2.76 annualized dividend and a dividend yield of 10.00%. AllianceBernstein’s dividend payout ratio (DPR) is presently 120.00%.

Separately, Zacks Investment Research lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th.

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AllianceBernstein Company Profile

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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