Sequoia Financial Advisors LLC Acquires Shares of 19,219 AllianceBernstein Holding L.P. (NYSE:AB)

Sequoia Financial Advisors LLC bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,219 shares of the asset manager’s stock, valued at approximately $671,000.

A number of other large investors have also recently made changes to their positions in AB. NBC Securities Inc. boosted its position in shares of AllianceBernstein by 80.8% during 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 period. Geneos Wealth Management Inc. purchased a new position in AllianceBernstein during the 1st quarter valued at $28,000. SJS Investment Consulting Inc. bought a new position in AllianceBernstein in the 2nd quarter valued at $31,000. Register Financial Advisors LLC purchased a new stake in AllianceBernstein in the first quarter worth $42,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of AllianceBernstein by 1,354.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after purchasing an additional 1,354 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AB has been the topic of a number of research analyst reports. The Goldman Sachs Group upped 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. Barclays raised their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday. TD Cowen boosted their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Evercore ISI raised their price objective on AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.80.

AllianceBernstein Stock Performance

Shares of AB opened at $38.38 on Friday. The company has a 50 day moving average price of $35.17 and a 200-day moving average price of $34.13. AllianceBernstein Holding L.P. has a fifty-two week low of $25.83 and a fifty-two week high of $38.96. The stock has a market capitalization of $4.42 billion, a PE ratio of 15.93, a PEG ratio of 0.66 and a beta of 1.24.

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

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 4th will be given a dividend of $0.77 per share. The ex-dividend date is Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a yield of 8.03%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio (DPR) is presently 117.84%.

Insiders Place Their Bets

In other news, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the acquisition, the insider now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the transaction, the director now directly owns 25,923 shares of the company’s stock, valued at $903,935.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction on 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 acquisition, the insider now 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 position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

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.