Sheaff Brock Investment Advisors LLC Purchases New Position in AllianceBernstein Holding L.P. (NYSE:AB)

Sheaff Brock Investment Advisors LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the 3rd quarter, HoldingsChannel reports. The fund acquired 6,810 shares of the asset manager’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AB. Cetera Investment Advisers increased its stake in shares of AllianceBernstein by 231.8% in the 1st quarter. Cetera Investment Advisers now owns 127,220 shares of the asset manager’s stock valued at $4,420,000 after purchasing an additional 88,875 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of AllianceBernstein by 24.3% in the first quarter. Epoch Investment Partners Inc. now owns 160,671 shares of the asset manager’s stock valued at $5,582,000 after buying an additional 31,399 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of AllianceBernstein by 13.1% in the first quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock valued at $7,481,000 after buying an additional 24,951 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter worth approximately $671,000. Finally, International Assets Investment Management LLC purchased a new position in shares of AllianceBernstein during the 3rd quarter valued at approximately $31,650,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Trading Down 1.2 %

Shares of NYSE AB opened at $36.57 on Friday. The stock has a market cap of $4.21 billion, a PE ratio of 10.48, a P/E/G ratio of 0.82 and a beta of 1.23. The company has a 50-day moving average of $35.96 and a 200 day moving average of $34.53. AllianceBernstein Holding L.P. has a 12-month low of $27.40 and a 12-month high of $38.96.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Monday, November 4th will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a yield of 8.42%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is 88.25%.

Analyst Ratings Changes

AB has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI upped their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen increased 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the business’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 directly owns 25,923 shares in the company, valued at $903,935.01. The trade was a 13.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average price 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 $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by company insiders.

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.