22,537 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,537 shares of the asset manager’s stock, valued at approximately $786,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AB. NBC Securities Inc. raised 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 worth $25,000 after acquiring an additional 329 shares during the last quarter. SJS Investment Consulting Inc. acquired a new stake in AllianceBernstein during the 2nd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its holdings in AllianceBernstein by 1,354.0% during the 1st 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. Farther Finance Advisors LLC lifted its position 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 purchasing an additional 764 shares during the period. Finally, Larson Financial Group LLC bought a new stake in shares of AllianceBernstein in the 2nd quarter valued at $51,000. 19.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AllianceBernstein news, insider Equitable Holdings, Inc. purchased 500,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares in the company, valued at $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 25,923 shares of the company’s stock, valued at $903,935.01. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $36.57 on Friday. The business has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $34.53. AllianceBernstein Holding L.P. has a one year low of $27.40 and a one year high of $38.96. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.82 and a beta of 1.23.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.42%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, November 4th. AllianceBernstein’s dividend payout ratio is presently 88.25%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AB. Evercore ISI lifted their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their target price on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen boosted their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.