Sanctuary Advisors LLC Purchases Shares of 18,522 AllianceBernstein Holding L.P. (NYSE:AB)

Sanctuary Advisors LLC purchased a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,522 shares of the asset manager’s stock, valued at approximately $622,000.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers grew its holdings in AllianceBernstein by 231.8% during the first 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 during the period. Nomura Holdings Inc. boosted its stake in shares of AllianceBernstein by 61.7% in the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock worth $7,156,000 after acquiring an additional 88,000 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of AllianceBernstein by 115.7% in the first quarter. BNP Paribas Financial Markets now owns 70,607 shares of the asset manager’s stock worth $2,453,000 after acquiring an additional 37,876 shares during the period. Epoch Investment Partners Inc. boosted its stake 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 worth $5,582,000 after acquiring an additional 31,399 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of AllianceBernstein in the first quarter worth about $23,660,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Up 2.1 %

NYSE:AB opened at $36.11 on Tuesday. The company has a market capitalization of $4.16 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.66 and a beta of 1.24. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $36.20. The business’s 50-day moving average is $34.30 and its 200 day moving average is $33.90.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $807.42 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that AllianceBernstein Holding L.P. will post 3.02 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.84 dividend on an annualized basis and a yield of 7.86%. AllianceBernstein’s dividend payout ratio (DPR) is presently 117.84%.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the sale, the director now directly owns 25,923 shares in the company, valued at $903,935.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total value of $139,480.00. Following the sale, the director now directly owns 25,923 shares in the company, valued at approximately $903,935.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of AllianceBernstein stock in a transaction dated 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 of the company’s stock, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AB shares. The Goldman Sachs Group upped their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen upped their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI boosted their target price on AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays boosted their target price on AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AllianceBernstein has an average rating of “Moderate Buy” and an average price target of $41.20.

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.