UMB Bank n.a. Has $77,000 Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

UMB Bank n.a. reduced its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,200 shares of the asset manager’s stock after selling 500 shares during the period. UMB Bank n.a.’s holdings in AllianceBernstein were worth $77,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of AllianceBernstein by 8.9% during the second quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock worth $97,090,000 after buying an additional 234,253 shares in the last quarter. Jennison Associates LLC bought a new position in shares of AllianceBernstein during the 1st quarter worth approximately $23,660,000. The Manufacturers Life Insurance Company raised its holdings in shares of AllianceBernstein by 426.8% in the second quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock valued at $9,248,000 after purchasing an additional 221,736 shares during the last quarter. Nomura Holdings Inc. lifted its position in shares of AllianceBernstein by 61.7% in the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock worth $7,156,000 after purchasing an additional 88,000 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in AllianceBernstein by 13.1% during the first quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock worth $7,481,000 after purchasing an additional 24,951 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AB. Evercore ISI lifted their price target on shares of AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays began coverage on AllianceBernstein in a report on Tuesday, August 27th. They set an “equal weight” rating and a $35.00 target price on the stock. TD Cowen raised their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AllianceBernstein has an average rating of “Moderate Buy” and an average price target of $41.00.

AllianceBernstein Stock Up 0.5 %

Shares of NYSE AB opened at $35.37 on Monday. The business’s 50 day moving average price is $34.30 and its two-hundred day moving average price is $33.91. The company has a market cap of $4.07 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. AllianceBernstein Holding L.P. has a twelve month low of $25.83 and a twelve month high of $35.83.

AllianceBernstein (NYSE:AB) last posted its earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $807.42 million. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that AllianceBernstein Holding L.P. will post 3.02 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 8.03%. The ex-dividend date was Monday, August 5th. AllianceBernstein’s dividend payout ratio is presently 117.84%.

Insider Buying and Selling

In other AllianceBernstein news, insider Christopher Hogbin sold 12,781 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $34.87, for a total transaction of $445,673.47. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at $348,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Christopher Hogbin sold 12,781 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $34.87, for a total value of $445,673.47. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $348,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the sale, the director now owns 25,923 shares of the company’s stock, valued at $903,935.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

AllianceBernstein Company Profile

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.