AllianceBernstein Sees Unusually High Options Volume (NYSE:AB)

AllianceBernstein Holding L.P. (NYSE:AB) was the recipient of some unusual options trading on Thursday. Stock traders acquired 147,495 call options on the stock. This is an increase of 14,753% compared to the average daily volume of 993 call options.

AllianceBernstein Stock Down 0.8%

Shares of NYSE:AB traded down $0.32 during trading on Thursday, reaching $40.77. The stock had a trading volume of 449,885 shares, compared to its average volume of 495,510. The stock has a market cap of $3.71 billion, a P/E ratio of 13.59, a PEG ratio of 1.12 and a beta of 0.87. The business has a fifty day moving average price of $40.00 and a 200-day moving average price of $39.70. AllianceBernstein has a fifty-two week low of $32.28 and a fifty-two week high of $44.11.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $957.31 million for the quarter, compared to analyst estimates of $956.45 million. AllianceBernstein had a net margin of 6.62% and a return on equity of 21.17%. AllianceBernstein’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. As a group, equities analysts forecast that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be paid a $0.96 dividend. The ex-dividend date is Friday, February 20th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.86. This represents a $3.84 annualized dividend and a yield of 9.4%. AllianceBernstein’s payout ratio is currently 114.67%.

Wall Street Analysts Forecast Growth

AB has been the topic of several research reports. TD Cowen reissued a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Evercore increased their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Weiss Ratings upgraded shares of AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Sanford C. Bernstein reaffirmed a “neutral” rating on shares of AllianceBernstein in a report on Monday, February 9th. Finally, Barclays raised their price objective on shares of AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AllianceBernstein presently has an average rating of “Hold” and a consensus price target of $42.17.

Institutional Trading of AllianceBernstein

Hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth about $35,000. Motiv8 Investments LLC purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at about $36,000. Elyxium Wealth LLC acquired a new position in AllianceBernstein during the 4th quarter worth approximately $51,000. Heritage Wealth Advisors purchased a new position in AllianceBernstein in the 4th quarter worth approximately $52,000. Finally, Ameriflex Group Inc. purchased a new position in AllianceBernstein in the 4th quarter worth approximately $65,000. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.