AllianceBernstein Holding L.P. (NYSE:AB) Shares Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 1,019.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,961 shares of the asset manager’s stock after acquiring an additional 255,868 shares during the quarter. Crestwood Advisors Group LLC’s holdings in AllianceBernstein were worth $9,803,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AB. Farther Finance Advisors LLC raised its position in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after buying an additional 764 shares during the period. US Bancorp DE increased its stake in AllianceBernstein by 8.1% during the third quarter. US Bancorp DE now owns 11,290 shares of the asset manager’s stock worth $394,000 after acquiring an additional 850 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at about $2,069,000. International Assets Investment Management LLC purchased a new stake in shares of AllianceBernstein during the 3rd quarter worth about $31,650,000. Finally, Private Advisor Group LLC increased its position in AllianceBernstein by 3.4% during the 3rd quarter. Private Advisor Group LLC now owns 51,763 shares of the asset manager’s stock worth $1,806,000 after purchasing an additional 1,710 shares in the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AllianceBernstein

In related 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles G.T. Stonehill sold 4,000 shares of the business’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 sale, the director now directly owns 25,923 shares in the company, valued at approximately $903,935.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

AllianceBernstein Stock Up 0.4 %

Shares of NYSE:AB traded up $0.16 during trading on Tuesday, hitting $36.27. 12,253 shares of the company traded hands, compared to its average volume of 292,854. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.86 and a beta of 1.23. AllianceBernstein Holding L.P. has a one year low of $25.83 and a one year high of $38.96. The business’s fifty day moving average is $35.47 and its 200-day moving average is $34.33.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.49%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio is currently 81.38%.

Analysts Set New Price Targets

Several research firms have issued reports on AB. Barclays boosted their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Evercore ISI boosted their price objective on AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, TD Cowen raised their target price on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.80.

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.