AllianceBernstein (NYSE:AB) Sees Unusually-High Trading Volume – Time to Buy?

Shares of AllianceBernstein Holding L.P. (NYSE:AB) saw strong trading volume on Friday . 1,127,543 shares changed hands during trading, an increase of 180% from the previous session’s volume of 402,136 shares.The stock last traded at $38.03 and had previously closed at $38.12.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays decreased their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Sanford C. Bernstein set a $45.00 price objective on shares of AllianceBernstein in a research report on Thursday, January 16th. Finally, TD Cowen lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating and lifted their price target for the company from $38.00 to $38.50 in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

AllianceBernstein Price Performance

The stock’s 50 day simple moving average is $37.60 and its two-hundred day simple moving average is $36.57. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.78 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. As a group, analysts predict that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 dividend on an annualized basis and a yield of 11.05%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. AllianceBernstein’s dividend payout ratio is currently 112.90%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AB. Jennison Associates LLC raised its position in shares of AllianceBernstein by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after acquiring an additional 95,847 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of AllianceBernstein by 2.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 288,032 shares of the asset manager’s stock worth $10,683,000 after acquiring an additional 7,071 shares in the last quarter. Citigroup Inc. grew its stake in shares of AllianceBernstein by 59.1% during the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock worth $22,528,000 after acquiring an additional 239,941 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of AllianceBernstein in the fourth quarter valued at $290,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of AllianceBernstein in the fourth quarter valued at $277,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

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.