Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) PT at $43.00

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $42.40.

Several analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI lifted their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays reduced their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday.

Insiders Place Their Bets

In related news, insider Equitable Holdings, Inc. bought 500,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $104,824,522.84. This trade represents a 19.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AllianceBernstein

Several hedge funds and other institutional investors have recently modified their holdings of AB. NBC Securities Inc. grew its position in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after buying an additional 329 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of AllianceBernstein during the 2nd quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of AllianceBernstein during the 3rd quarter valued at about $31,000. FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein during the 3rd quarter valued at about $36,000. Finally, Farther Finance Advisors LLC grew its position in shares of AllianceBernstein by 115.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after buying an additional 764 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Up 2.0 %

AB stock opened at $36.30 on Friday. The firm has a 50 day moving average of $36.50 and a 200-day moving average of $34.86. AllianceBernstein has a 12-month low of $28.68 and a 12-month high of $38.96. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.82 and a beta of 1.21.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were issued a $0.77 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a yield of 8.48%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is currently 88.25%.

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.