AllianceBernstein Holding L.P. (NYSE:AB) Receives $43.00 Consensus Target Price from Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.00.

Several research analysts have recently commented on the company. TD Cowen lifted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI lifted their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, 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.

AllianceBernstein Stock Up 0.2 %

Shares of NYSE:AB opened at $36.64 on Tuesday. The stock has a market cap of $4.22 billion, a PE ratio of 10.57, a PEG ratio of 0.84 and a beta of 1.23. The company’s fifty day moving average is $35.96 and its 200 day moving average is $34.54. AllianceBernstein has a 52 week low of $27.58 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 4th will be issued a $0.77 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.08 annualized dividend and a yield of 8.41%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is 88.25%.

Insiders Place Their Bets

In other AllianceBernstein news, 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 transaction, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. This represents a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This represents a 19.48 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Trading of AllianceBernstein

A number of hedge funds have recently modified their holdings of AB. NBC Securities Inc. increased its stake in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock valued at $265,000 after purchasing an additional 355 shares during the last quarter. Creative Planning boosted its position in shares of AllianceBernstein by 3.2% in the 3rd quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after purchasing an additional 469 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of AllianceBernstein by 8.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,122 shares of the asset manager’s stock worth $283,000 after buying an additional 610 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in AllianceBernstein by 8.1% during the 2nd quarter. Raymond James Trust N.A. now owns 9,546 shares of the asset manager’s stock valued at $323,000 after buying an additional 713 shares in the last quarter. Institutional investors own 19.25% of the company’s stock.

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.