Segall Bryant & Hamill LLC Takes $492,000 Position in AllianceBernstein Holding L.P. (NYSE:AB)

Segall Bryant & Hamill LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,100 shares of the asset manager's stock, valued at approximately $492,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AB. Sheaff Brock Investment Advisors LLC bought a new position in AllianceBernstein during the 3rd quarter valued at about $238,000. Nicola Wealth Management LTD. lifted its position in AllianceBernstein by 44.9% during the third quarter. Nicola Wealth Management LTD. now owns 155,000 shares of the asset manager's stock valued at $5,408,000 after purchasing an additional 48,000 shares during the period. Haverford Trust Co purchased a new stake in AllianceBernstein in the third quarter worth approximately $276,000. Aptus Capital Advisors LLC grew its position in AllianceBernstein by 8.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,122 shares of the asset manager's stock worth $283,000 after purchasing an additional 610 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in AllianceBernstein during the 3rd quarter valued at $786,000. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded down $0.30 during trading hours on Monday, hitting $35.28. The company's stock had a trading volume of 457,760 shares, compared to its average volume of 298,901. AllianceBernstein Holding L.P. has a 12-month low of $27.58 and a 12-month high of $38.96. The business has a 50 day moving average price of $36.23 and a two-hundred day moving average price of $34.67. The company has a market cap of $4.06 billion, a PE ratio of 10.19, a PEG ratio of 0.81 and a beta of 1.23.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were issued a $0.77 dividend. This is an increase from AllianceBernstein's previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date was Monday, November 4th. AllianceBernstein's payout ratio is currently 88.25%.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. acquired 500,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was acquired 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 represents a 19.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

AB has been the topic of a number of research reports. TD Cowen raised their price target on AllianceBernstein from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their target price on AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Evercore ISI boosted their price target 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 increased their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.