Moody Aldrich Partners LLC Buys Shares of 59,294 AllianceBernstein Holding L.P. (NYSE:AB)

Moody Aldrich Partners LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 59,294 shares of the asset manager's stock, valued at approximately $2,069,000. Moody Aldrich Partners LLC owned approximately 0.05% of AllianceBernstein as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its stake in AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock worth $25,000 after buying an additional 329 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in AllianceBernstein in the first quarter valued at $28,000. SJS Investment Consulting Inc. bought a new position in AllianceBernstein in the second quarter valued at $31,000. Register Financial Advisors LLC purchased a new stake in AllianceBernstein during the first quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC lifted its stake in 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. Institutional investors own 19.25% of the company's stock.

AllianceBernstein Trading Up 1.8 %

AB stock traded up $0.68 during midday trading on Thursday, hitting $38.33. The company had a trading volume of 533,434 shares, compared to its average volume of 294,432. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.66 and a beta of 1.24. AllianceBernstein Holding L.P. has a 52 week low of $25.83 and a 52 week high of $38.96. The stock's 50 day moving average price is $35.10 and its 200 day moving average price is $34.11.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.81%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $807.42 million. During the same quarter in the prior year, the company posted $0.61 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict that AllianceBernstein Holding L.P. will post 3.02 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.84 annualized dividend and a dividend yield of 7.41%. AllianceBernstein's payout ratio is presently 117.84%.

Insider Activity at AllianceBernstein

In related news, insider Christopher Hogbin sold 12,781 shares of the firm's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $34.87, for a total value of $445,673.47. Following the completion of the sale, the insider now owns 10,000 shares of the company's stock, valued at $348,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Equitable Holdings, Inc. acquired 500,000 shares of the business's stock in a transaction on Friday, September 20th. The shares were acquired at an average cost 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 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Hogbin sold 12,781 shares of the company's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $34.87, for a total value of $445,673.47. Following the transaction, the insider now owns 10,000 shares in the company, valued at $348,700. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AB. The Goldman Sachs Group raised their price objective on AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. TD Cowen lifted their price target on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Evercore ISI boosted their price objective on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, Barclays increased their target price on shares of AllianceBernstein from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.20.

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.