Crestwood Advisors Group LLC Acquires 255,868 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Crestwood Advisors Group LLC raised its position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 1,019.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 280,961 shares of the asset manager's stock after buying an additional 255,868 shares during the period. Crestwood Advisors Group LLC owned about 0.24% of AllianceBernstein worth $9,803,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC raised its stake in shares of AllianceBernstein by 9.5% during the first quarter. Private Advisor Group LLC now owns 50,429 shares of the asset manager's stock worth $1,752,000 after buying an additional 4,364 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of AllianceBernstein by 115.7% in the 1st quarter. BNP Paribas Financial Markets now owns 70,607 shares of the asset manager's stock valued at $2,453,000 after purchasing an additional 37,876 shares during the period. Jennison Associates LLC bought a new position in shares of AllianceBernstein in the 1st quarter worth $23,660,000. Geneos Wealth Management Inc. bought a new position in shares of AllianceBernstein in the 1st quarter worth $28,000. Finally, Disciplined Equity Management Inc. grew its stake in shares of AllianceBernstein by 14.1% during the first quarter. Disciplined Equity Management Inc. now owns 56,283 shares of the asset manager's stock worth $1,955,000 after purchasing an additional 6,960 shares during the period. 19.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AB shares. The Goldman Sachs Group raised their target price on AllianceBernstein from $40.75 to $41.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Barclays upped their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. TD Cowen lifted their target price on AllianceBernstein from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, Evercore ISI increased their price target on AllianceBernstein from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, AllianceBernstein presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.80.

Insider Activity

In other AllianceBernstein news, insider Equitable Holdings, Inc. purchased 500,000 shares of the business's stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares of the company's stock, valued at $104,824,522.84. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the company'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 owns 25,923 shares in the company, valued at $903,935.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the purchase, the insider now owns 3,066,838 shares in the company, valued at $104,824,522.84. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

AllianceBernstein Price Performance

Shares of AB traded up $0.36 during midday trading on Tuesday, hitting $36.47. The stock had a trading volume of 174,328 shares, compared to its average volume of 293,611. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The company has a 50 day simple moving average of $35.50 and a two-hundred day simple moving average of $34.36. AllianceBernstein Holding L.P. has a twelve month low of $25.83 and a twelve month high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be paid 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 8.45%. The ex-dividend date of this dividend is Monday, November 4th. AllianceBernstein's dividend payout ratio (DPR) is currently 81.38%.

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.