International Assets Investment Management LLC Acquires Shares of 90,714 AllianceBernstein Holding L.P. (NYSE:AB)

International Assets Investment Management LLC bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 90,714 shares of the asset manager’s stock, valued at approximately $31,650,000. International Assets Investment Management LLC owned approximately 0.08% of AllianceBernstein as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AB. NBC Securities Inc. lifted its position in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the period. Geneos Wealth Management Inc. bought a new stake in AllianceBernstein during the first quarter worth $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of AllianceBernstein in the 2nd quarter valued at $31,000. EverSource Wealth Advisors LLC increased its stake in shares of AllianceBernstein by 1,354.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in AllianceBernstein in the second quarter valued at about $51,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Insiders Place Their Bets

In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Charles G.T. Stonehill sold 4,000 shares of the company’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 sale, the director now owns 25,923 shares in the company, valued at $903,935.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Barclays increased their target price on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday. The Goldman Sachs Group upped 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, TD Cowen lifted their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.80.

AllianceBernstein Trading Down 0.9 %

Shares of AB opened at $38.04 on Tuesday. The firm’s fifty day simple moving average is $35.17 and its two-hundred day simple moving average is $34.14. AllianceBernstein Holding L.P. has a 12 month low of $25.83 and a 12 month high of $38.96. The stock has a market capitalization of $4.38 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24.

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

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a yield of 8.10%. AllianceBernstein’s dividend payout ratio is currently 117.84%.

AllianceBernstein Company 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.