Short Interest in AllianceBernstein Holding L.P. (NYSE:AB) Rises By 12.3%

AllianceBernstein Holding L.P. (NYSE:AB) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 997,200 shares, a growth of 12.3% from the December 15th total of 887,900 shares. Based on an average daily volume of 364,500 shares, the days-to-cover ratio is presently 2.7 days.

AllianceBernstein Price Performance

Shares of AB stock traded up $1.45 during trading hours on Friday, hitting $38.22. 621,566 shares of the company’s stock were exchanged, compared to its average volume of 395,595. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $38.96. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.69 and a beta of 1.20. The stock’s 50-day moving average is $36.37 and its 200-day moving average is $35.47.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were issued a $0.77 dividend. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.06%. The ex-dividend date was Monday, November 4th. AllianceBernstein’s payout ratio is currently 88.25%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Evercore ISI raised their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.40.

Institutional Trading of AllianceBernstein

Several hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its position in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after buying an additional 329 shares during the last quarter. Truvestments Capital LLC acquired a new position in AllianceBernstein in the third quarter valued at $31,000. FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein during the 3rd quarter valued at about $36,000. Farther Finance Advisors LLC grew its position in AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 764 shares during the period. Finally, CWM LLC increased its stake in AllianceBernstein by 740.7% during the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 2,000 shares in the last quarter. 19.25% of the stock is 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.