AllianceBernstein (NYSE:AB) Stock Crosses Above Fifty Day Moving Average – Here’s Why

AllianceBernstein Holding L.P. (NYSE:AB)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $36.48 and traded as high as $36.68. AllianceBernstein shares last traded at $35.44, with a volume of 336,299 shares.

Analysts Set New Price Targets

AB has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI raised their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays decreased their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

AllianceBernstein Trading Down 3.9 %

The stock’s fifty day moving average price is $36.48 and its two-hundred day moving average price is $35.33. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.20.

AllianceBernstein Increases Dividend

The company 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 represents a $3.08 dividend on an annualized basis and a dividend yield of 8.69%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, November 4th. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

Institutional Investors Weigh In On AllianceBernstein

A number of hedge funds and other institutional investors have recently modified their holdings of AB. NBC Securities Inc. raised its stake in AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares in the last quarter. Truvestments Capital LLC acquired a new stake in AllianceBernstein during the 3rd quarter worth $31,000. FSA Wealth Management LLC acquired a new stake in AllianceBernstein during the 3rd quarter worth $36,000. Farther Finance Advisors LLC raised its stake in AllianceBernstein by 115.4% during the 3rd 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 in the last quarter. Finally, CWM LLC raised its stake in AllianceBernstein by 740.7% during the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock worth $79,000 after acquiring an additional 2,000 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

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.