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 fifty day moving average during trading on Friday . The stock has a fifty 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 research reports. Barclays lowered their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. The Goldman Sachs Group boosted their target price 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. Finally, Evercore ISI boosted their target price 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.40.

AllianceBernstein Trading Down 3.9 %

The company has a market cap of $4.08 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 0.83 and a beta of 1.20. The stock’s fifty day simple moving average is $36.48 and its 200 day simple moving average is $35.33.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were paid a $0.77 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.69%. AllianceBernstein’s dividend payout ratio is 88.25%.

Institutional Trading of AllianceBernstein

Several hedge funds have recently made changes to their positions in the company. NBC Securities Inc. boosted its position in shares of 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 purchasing an additional 329 shares during the period. Captrust Financial Advisors boosted its position in shares of AllianceBernstein by 4.9% during the 3rd 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 period. Second Line Capital LLC boosted its position in shares of AllianceBernstein by 5.9% during the 3rd 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 period. Creative Planning boosted its position in shares of AllianceBernstein by 3.2% during the 3rd 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 period. Finally, Sanctuary Advisors LLC boosted its position in shares of AllianceBernstein by 3.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock worth $679,000 after purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 19.25% of the company’s stock.

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.