AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,297 shares of the asset manager’s stock after selling 660 shares during the period. Concurrent Investment Advisors LLC’s holdings in AllianceBernstein were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AB. NBC Securities Inc. raised its holdings in shares of AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of AllianceBernstein in the first quarter worth $28,000. SJS Investment Consulting Inc. acquired a new position in shares of AllianceBernstein in the second quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings 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 worth $49,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings 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 worth $50,000 after acquiring an additional 764 shares during the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AllianceBernstein

In other news, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction on Friday, September 20th. The stock was purchased at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the transaction, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the transaction, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total value of $139,480.00. Following the completion of the sale, the director now directly owns 25,923 shares of the company’s stock, valued at $903,935.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

AllianceBernstein Trading Down 2.2 %

AB stock opened at $36.71 on Monday. The stock has a 50-day moving average price of $35.69 and a two-hundred day moving average price of $34.44. AllianceBernstein Holding L.P. has a 12-month low of $25.83 and a 12-month high of $38.96. The company has a market cap of $4.23 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.23.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Monday, November 4th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 8.39%. The ex-dividend date is Monday, November 4th. This is an increase 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 analyst reports. The Goldman Sachs Group boosted their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen lifted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays lifted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Evercore ISI lifted their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.