Rockefeller Capital Management L.P. Sells 83,319 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Rockefeller Capital Management L.P. cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) by 61.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,579 shares of the asset manager's stock after selling 83,319 shares during the period. Rockefeller Capital Management L.P.'s holdings in AllianceBernstein were worth $1,800,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AB. NBC Securities Inc. grew its stake in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock valued at $25,000 after buying an additional 329 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in AllianceBernstein in the second quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter worth $31,000. Farther Finance Advisors LLC raised its holdings in shares of AllianceBernstein by 115.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock valued at $50,000 after purchasing an additional 764 shares in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of AllianceBernstein during the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 19.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Evercore ISI raised their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on AllianceBernstein from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Insider Transactions at AllianceBernstein

In other news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded down $0.20 during trading on Friday, reaching $35.60. The company's stock had a trading volume of 253,814 shares, compared to its average volume of 314,674. The business's fifty day moving average price is $36.47 and its 200-day moving average price is $34.83. AllianceBernstein Holding L.P. has a one year low of $28.50 and a one year high of $38.96. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 8.65%. This is a boost from AllianceBernstein's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, November 4th. AllianceBernstein's dividend payout ratio is currently 88.25%.

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.