AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Rating of "Moderate Buy" by Analysts

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) has earned an average rating of "Moderate Buy" from the five analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.00.

Several research firms have issued reports on AB. Barclays boosted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, Evercore ISI raised their price objective 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.

AllianceBernstein Trading Down 0.6 %

Shares of NYSE AB traded down $0.20 during mid-day trading on Friday, reaching $35.60. The company had a trading volume of 253,814 shares, compared to its average volume of 314,674. The company has a 50-day moving average price of $36.47 and a two-hundred day moving average price of $34.83. The stock has a market cap of $4.10 billion, a PE ratio of 10.20, a P/E/G ratio of 0.82 and a beta of 1.21. AllianceBernstein has a 1-year low of $28.50 and a 1-year high of $38.96.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were issued a dividend of $0.77 per share. This is a boost from AllianceBernstein's previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.65%. The ex-dividend date of this dividend was Monday, November 4th. AllianceBernstein's dividend payout ratio (DPR) is currently 88.25%.

Insider Activity at AllianceBernstein

In other news, insider Equitable Holdings, Inc. purchased 500,000 shares of the business's stock in a transaction dated Friday, September 20th. The stock was bought 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 of the company's stock, valued at approximately $104,824,522.84. This trade represents a 19.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AllianceBernstein

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in AllianceBernstein by 80.8% in 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 in the last quarter. SJS Investment Consulting Inc. bought a new stake in AllianceBernstein in the second quarter worth $31,000. Truvestments Capital LLC acquired a new position in AllianceBernstein during the third quarter worth $31,000. FSA Wealth Management LLC bought a new position in AllianceBernstein during the third quarter valued at about $36,000. Finally, Farther Finance Advisors LLC lifted its position in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock worth $50,000 after buying an additional 764 shares during the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

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.