Farther Finance Advisors LLC Grows Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Farther Finance Advisors LLC grew its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 115.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,426 shares of the asset manager’s stock after purchasing an additional 764 shares during the quarter. Farther Finance Advisors LLC’s holdings in AllianceBernstein were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. US Bancorp DE grew its holdings in AllianceBernstein by 8.1% during the 3rd quarter. US Bancorp DE now owns 11,290 shares of the asset manager’s stock valued at $394,000 after buying an additional 850 shares in the last quarter. Moody Aldrich Partners LLC purchased a new stake in AllianceBernstein during the 3rd quarter valued at approximately $2,069,000. International Assets Investment Management LLC purchased a new stake in AllianceBernstein during the 3rd quarter valued at approximately $31,650,000. Private Advisor Group LLC grew its holdings in AllianceBernstein by 3.4% during the 3rd quarter. Private Advisor Group LLC now owns 51,763 shares of the asset manager’s stock valued at $1,806,000 after buying an additional 1,710 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in AllianceBernstein during the 3rd quarter valued at approximately $671,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Down 1.1 %

NYSE:AB opened at $35.77 on Thursday. AllianceBernstein Holding L.P. has a twelve month low of $26.18 and a twelve month high of $38.96. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. The stock has a fifty day simple moving average of $35.83 and a 200-day simple moving average of $34.48.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 4th will be issued a $0.77 dividend. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.61%. The ex-dividend date of this dividend is Monday, November 4th. AllianceBernstein’s payout ratio is presently 88.25%.

Analysts Set New Price Targets

AB has been the subject of a number of research analyst reports. Evercore ISI raised their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Barclays raised their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group raised their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling at AllianceBernstein

In other news, Director Charles G.T. Stonehill sold 4,000 shares of the business’s stock in a transaction dated 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 owns 25,923 shares in the company, valued at approximately $903,935.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the business’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 value of $139,480.00. Following the completion of the transaction, the director now directly owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.

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.