Segall Bryant & Hamill LLC Purchases Shares of 14,100 AllianceBernstein Holding L.P. (NYSE:AB)

Segall Bryant & Hamill LLC purchased a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,100 shares of the asset manager’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in AllianceBernstein by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock worth $97,090,000 after acquiring an additional 234,253 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of AllianceBernstein by 1,019.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock worth $9,803,000 after buying an additional 255,868 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of AllianceBernstein by 426.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock worth $9,248,000 after buying an additional 221,736 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AllianceBernstein by 0.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 177,472 shares of the asset manager’s stock worth $5,997,000 after buying an additional 841 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of AllianceBernstein by 5.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 169,513 shares of the asset manager’s stock worth $5,728,000 after buying an additional 8,842 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

NYSE:AB opened at $35.58 on Monday. The firm has a market cap of $4.10 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. AllianceBernstein Holding L.P. has a fifty-two week low of $27.58 and a fifty-two week high of $38.96. The business has a 50 day moving average price of $36.23 and a 200-day moving average price of $34.65.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were paid a $0.77 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a yield of 8.66%. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AB shares. Barclays boosted their price target on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. TD Cowen boosted their price objective on AllianceBernstein to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI boosted their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Insider Buying and Selling

In other news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was acquired 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 owns 3,066,838 shares in the company, valued at $104,824,522.84. This trade 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 can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

About AllianceBernstein

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.