AllianceBernstein Holding L.P. (NYSE:AB) Stock Holdings Boosted by Sittner & Nelson LLC

Sittner & Nelson LLC raised its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 285.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,100 shares of the asset manager’s stock after purchasing an additional 6,000 shares during the quarter. Sittner & Nelson LLC’s holdings in AllianceBernstein were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AB. NBC Securities Inc. boosted its stake in 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 purchasing an additional 329 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in AllianceBernstein during the 1st quarter valued at $28,000. SJS Investment Consulting Inc. bought a new position in AllianceBernstein during the 2nd quarter valued at $31,000. 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 valued at $49,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 764 shares in the last quarter. 19.25% of the stock is owned by institutional investors.

Insider Transactions at AllianceBernstein

In other news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 25,923 shares of the company’s stock, valued at $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Equitable Holdings, Inc. bought 500,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were bought 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 in the company, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the transaction, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

AllianceBernstein Stock Down 1.6 %

Shares of AllianceBernstein stock opened at $37.58 on Friday. The stock has a market cap of $4.33 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. The business has a fifty day simple moving average of $35.65 and a 200-day simple moving average of $34.40. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio (DPR) is 88.25%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AB. TD Cowen raised their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays raised their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Evercore ISI raised their price objective on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.