XTX Topco Ltd Purchases New Shares in AllianceBernstein Holding L.P. (NYSE:AB)

XTX Topco Ltd purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,972 shares of the asset manager’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. increased its holdings in shares of 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 purchasing an additional 329 shares during the period. Truvestments Capital LLC acquired a new position in AllianceBernstein in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in AllianceBernstein in the 3rd quarter valued at $36,000. Farther Finance Advisors LLC lifted its stake in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after acquiring an additional 764 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in shares of AllianceBernstein in the second quarter valued at about $51,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AB shares. The Goldman Sachs Group increased their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI raised their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays dropped 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, December 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Price Performance

Shares of NYSE:AB opened at $35.95 on Monday. AllianceBernstein Holding L.P. has a 12 month low of $30.10 and a 12 month high of $38.96. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The business’s 50 day simple moving average is $36.61 and its 200-day simple moving average is $34.93.

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 given a $0.77 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.57%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio (DPR) is currently 88.25%.

Insider Transactions at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. acquired 500,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the purchase, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This trade represents a 19.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

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.