GSA Capital Partners LLP Acquires Shares of 22,537 AllianceBernstein Holding L.P. (NYSE:AB)

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

A number of other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in AllianceBernstein by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager's stock valued at $97,090,000 after purchasing an additional 234,253 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in AllianceBernstein by 1,019.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager's stock worth $9,803,000 after buying an additional 255,868 shares during the period. The Manufacturers Life Insurance Company raised its position in AllianceBernstein by 426.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager's stock worth $9,248,000 after buying an additional 221,736 shares during the last quarter. Osaic Holdings Inc. lifted its stake in AllianceBernstein by 13.1% during the 1st quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager's stock valued at $7,481,000 after acquiring an additional 24,951 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AllianceBernstein by 0.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 177,472 shares of the asset manager's stock valued at $5,997,000 after acquiring an additional 841 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Stock Down 1.2 %

Shares of NYSE:AB traded down $0.46 during trading on Friday, reaching $36.57. 266,288 shares of the company's stock traded hands, compared to its average volume of 323,510. The firm has a market cap of $4.21 billion, a PE ratio of 10.48, a P/E/G ratio of 0.84 and a beta of 1.23. AllianceBernstein Holding L.P. has a fifty-two week low of $27.40 and a fifty-two week high of $38.96. The company has a 50-day simple moving average of $35.96 and a 200-day simple moving average of $34.53.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from AllianceBernstein's previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.42%. AllianceBernstein's payout ratio is 88.25%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. 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. Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. TD Cowen lifted their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Finally, Barclays upped 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Insider Transactions at AllianceBernstein

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the purchase, the insider now directly owns 3,066,838 shares of the company's stock, valued at approximately $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.