GSA Capital Partners LLP Acquires Shares of 22,537 AllianceBernstein Holding L.P. (NYSE:AB)

GSA Capital Partners LLP bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the third quarter, Holdings Channel.com reports. The firm bought 22,537 shares of the asset manager’s stock, valued at approximately $786,000.

Other institutional investors also recently modified their holdings of the company. Crestwood Advisors Group LLC grew its position in AllianceBernstein by 1,019.7% during the third quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock valued at $9,803,000 after buying an additional 255,868 shares during the period. American Century Companies Inc. grew its position in shares of AllianceBernstein by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock valued at $97,090,000 after acquiring an additional 234,253 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of AllianceBernstein by 426.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock worth $9,248,000 after purchasing an additional 221,736 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of AllianceBernstein in the 2nd quarter worth approximately $4,477,000. Finally, Sei Investments Co. lifted its stake in AllianceBernstein by 159.4% in the first quarter. Sei Investments Co. now owns 154,598 shares of the asset manager’s stock valued at $5,371,000 after purchasing an additional 94,989 shares during the last quarter. 19.25% of the stock is owned by institutional investors.

Insider Activity

In other AllianceBernstein news, insider Equitable Holdings, Inc. purchased 500,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares in the company, valued at $104,824,522.84. The trade was a 19.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles G.T. Stonehill sold 4,000 shares of the company’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 transaction of $139,480.00. Following the completion of the transaction, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

AB has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. TD Cowen upped their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Evercore ISI increased their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target on shares of AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, AllianceBernstein presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

AllianceBernstein Stock Down 1.2 %

Shares of AB opened at $36.57 on Friday. The business’s 50-day moving average price is $35.96 and its 200-day moving average price is $34.53. AllianceBernstein Holding L.P. has a twelve month low of $27.40 and a twelve month high of $38.96. The stock has a market cap of $4.21 billion, a PE ratio of 10.48, a P/E/G ratio of 0.82 and a beta of 1.23.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Monday, November 4th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 8.42%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, November 4th. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

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.