Second Line Capital LLC Increases Stake in AllianceBernstein Holding L.P. (NYSE:AB)

Second Line Capital LLC raised its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,907 shares of the asset manager’s stock after buying an additional 443 shares during the quarter. Second Line Capital LLC’s holdings in AllianceBernstein were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. NBC Securities Inc. grew 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 acquiring an additional 329 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of AllianceBernstein in the third quarter valued at approximately $31,000. FSA Wealth Management LLC purchased a new position in AllianceBernstein during the third quarter worth approximately $36,000. Farther Finance Advisors LLC boosted its stake in AllianceBernstein by 115.4% during the third 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 last quarter. Finally, Larson Financial Group LLC purchased a new stake in AllianceBernstein in the 2nd quarter valued at $51,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Trading Down 1.3 %

Shares of AB opened at $35.84 on Wednesday. The firm has a market cap of $4.13 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. The company’s 50-day moving average price is $36.53 and its 200 day moving average price is $34.87. AllianceBernstein Holding L.P. has a 12-month low of $28.68 and a 12-month high of $38.96.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were issued a $0.77 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.59%. The ex-dividend date was Monday, November 4th. AllianceBernstein’s dividend payout ratio is currently 88.25%.

Analyst Upgrades and Downgrades

AB has been the topic of several analyst reports. Barclays reduced their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday. Evercore ISI lifted their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Insider Buying and Selling

In other news, insider Equitable Holdings, Inc. acquired 500,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the acquisition, the insider now owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This represents a 19.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

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.