Wilmington Savings Fund Society FSB Acquires Shares of 5,150 AllianceBernstein Holding L.P. (NYSE:AB)

Wilmington Savings Fund Society FSB bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,150 shares of the asset manager’s stock, valued at approximately $180,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC grew its holdings in shares of AllianceBernstein by 3.0% during the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock valued at $679,000 after buying an additional 549 shares during the last quarter. Second Line Capital LLC boosted its stake in AllianceBernstein by 5.9% during the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock valued at $276,000 after purchasing an additional 443 shares during the last quarter. XTX Topco Ltd purchased a new stake in AllianceBernstein during the 3rd quarter valued at $418,000. EP Wealth Advisors LLC bought a new stake in shares of AllianceBernstein in the 3rd quarter worth $322,000. Finally, Stifel Financial Corp increased its holdings in shares of AllianceBernstein by 2.6% in the 3rd quarter. Stifel Financial Corp now owns 208,120 shares of the asset manager’s stock worth $7,261,000 after purchasing an additional 5,196 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AB has been the subject of several research analyst reports. Evercore ISI lifted their price objective on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price objective 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Stock Down 2.1 %

Shares of NYSE:AB opened at $34.69 on Thursday. The firm’s 50 day moving average price is $36.64 and its 200-day moving average price is $34.96. The stock has a market capitalization of $4.00 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. AllianceBernstein Holding L.P. has a twelve month low of $30.10 and a twelve month high of $38.96.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 8.88%. The ex-dividend date of this dividend was Monday, November 4th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is currently 88.25%.

Insider Activity at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. bought 500,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the transaction, the insider now owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This trade represents a 19.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate 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.