Sittner & Nelson LLC Buys 6,000 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Sittner & Nelson LLC raised its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 285.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100 shares of the asset manager’s stock after buying an additional 6,000 shares during the period. Sittner & Nelson LLC’s holdings in AllianceBernstein were worth $283,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. grew its position in shares of AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of AllianceBernstein in the first quarter valued at about $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of AllianceBernstein in the second quarter valued at about $31,000. Farther Finance Advisors LLC grew its position 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 valued at $50,000 after purchasing an additional 764 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of AllianceBernstein by 1,354.0% in the first 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 during the last quarter. 19.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the acquisition, the insider now owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, 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 on Friday, September 20th. The shares were bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the acquisition, the insider now owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction that occurred on Thursday, August 22nd. The shares were 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. The trade was 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 owned by company insiders.

AllianceBernstein Stock Down 1.6 %

AB stock opened at $37.58 on Friday. AllianceBernstein Holding L.P. has a twelve month low of $25.83 and a twelve month high of $38.96. The company 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’s 50-day simple moving average is $35.65 and its 200 day simple moving average is $34.40.

AllianceBernstein Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AB. Barclays raised their price target on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI raised their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group raised their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen raised their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, AllianceBernstein has an average rating of “Moderate Buy” and an average target price of $43.00.

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.