Creative Planning Acquires 2,569 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Creative Planning boosted its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 21.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,536 shares of the asset manager’s stock after acquiring an additional 2,569 shares during the period. Creative Planning’s holdings in AllianceBernstein were worth $491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AB. Geneos Wealth Management Inc. bought a new stake in AllianceBernstein in the first quarter valued at about $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of AllianceBernstein in the 2nd quarter valued at approximately $31,000. Register Financial Advisors LLC bought a new position in AllianceBernstein during the 1st quarter worth approximately $42,000. EverSource Wealth Advisors LLC boosted its stake in AllianceBernstein by 1,354.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in AllianceBernstein in the second quarter valued at approximately $51,000. Institutional investors own 19.25% of the company’s stock.

Analyst Ratings Changes

AB has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays lifted their target price on AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group increased their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AllianceBernstein currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $36.11 on Tuesday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth 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 $36.20. The stock’s 50-day moving average is $34.30 and its 200-day moving average is $33.90.

AllianceBernstein (NYSE:AB) last released its quarterly 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $807.42 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that AllianceBernstein Holding L.P. will post 3.02 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.71 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.84 annualized dividend and a yield of 7.86%. AllianceBernstein’s payout ratio is currently 117.84%.

Insiders Place Their Bets

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total value of $139,480.00. Following the completion of the transaction, the director now directly owns 25,923 shares in the company, valued at $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total transaction of $139,480.00. Following the sale, the director now directly owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. 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 available through this hyperlink. Also, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

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.