AllianceBernstein Holding L.P. (NYSE:AB) Receives $43.00 Consensus Target Price from Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.40.

A number of equities analysts have weighed in on the company. Evercore ISI lifted 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. Barclays lowered their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group lifted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd.

Insider Activity

In other AllianceBernstein news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost 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. The trade was a 19.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. increased its holdings in AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after buying an additional 329 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after purchasing an additional 355 shares during the last quarter. Second Line Capital LLC grew its holdings in shares of AllianceBernstein by 5.9% during the third quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock worth $276,000 after purchasing an additional 443 shares during the last quarter. Creative Planning grew its holdings in shares of AllianceBernstein by 3.2% during the third quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after purchasing an additional 469 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of AllianceBernstein by 3.0% during the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock worth $679,000 after buying an additional 549 shares during the period. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Price Performance

Shares of AB stock opened at $36.30 on Friday. The business has a fifty day moving average of $36.50 and a 200 day moving average of $34.86. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. AllianceBernstein has a 1 year low of $28.68 and a 1 year high of $38.96.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were given a $0.77 dividend. The ex-dividend date was Monday, November 4th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.48%. AllianceBernstein’s dividend payout ratio is 88.25%.

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.