Sanctuary Advisors LLC Purchases 549 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Sanctuary Advisors LLC increased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,071 shares of the asset manager’s stock after acquiring an additional 549 shares during the period. Sanctuary Advisors LLC’s holdings in AllianceBernstein were worth $679,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. NBC Securities Inc. grew its holdings in shares of 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 purchasing an additional 329 shares during the last quarter. Truvestments Capital LLC bought a new stake in AllianceBernstein during the 3rd quarter worth about $31,000. FSA Wealth Management LLC acquired a new stake in AllianceBernstein in the 3rd quarter valued at about $36,000. Farther Finance Advisors LLC raised its stake in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after acquiring an additional 764 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of AllianceBernstein during the second quarter worth approximately $51,000. Institutional investors own 19.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AB shares. Evercore ISI raised their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AllianceBernstein presently has an average rating of “Moderate Buy” and an average target price of $42.40.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $36.80 on Wednesday. The firm has a fifty day moving average of $36.70 and a two-hundred day moving average of $35.02. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 0.83 and a beta of 1.21. AllianceBernstein Holding L.P. has a 52 week low of $30.10 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date was Monday, November 4th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio is currently 88.25%.

About AllianceBernstein

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.