Private Advisor Group LLC Purchases 1,710 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Private Advisor Group LLC increased its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 51,763 shares of the asset manager’s stock after acquiring an additional 1,710 shares during the period. Private Advisor Group LLC’s holdings in AllianceBernstein were worth $1,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. boosted its stake in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in AllianceBernstein during the first quarter worth $28,000. SJS Investment Consulting Inc. acquired a new position in AllianceBernstein during the second quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings in AllianceBernstein by 1,354.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after buying an additional 1,354 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in AllianceBernstein during the second quarter worth $51,000. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Price Performance

Shares of AB stock opened at $37.30 on Thursday. The firm has a 50-day moving average of $35.31 and a 200-day moving average of $34.21. The company has a market cap of $4.30 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.66 and a beta of 1.24. AllianceBernstein Holding L.P. has a one year low of $25.83 and a one year high of $38.96.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be issued a $0.77 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.26%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio is currently 127.80%.

Analyst Ratings Changes

AB has been the topic of several research reports. Barclays upped their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. TD Cowen upped their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI upped their price objective on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group upped their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.80.

Insider Activity

In related news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were 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 in the company, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were 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 in the company, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

AllianceBernstein 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.