Crestwood Advisors Group LLC Boosts Stake in AllianceBernstein Holding L.P. (NYSE:AB)

Crestwood Advisors Group LLC boosted its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 1,019.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,961 shares of the asset manager’s stock after acquiring an additional 255,868 shares during the period. Crestwood Advisors Group LLC owned 0.24% of AllianceBernstein worth $9,803,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares during the period. Karpas Strategies LLC boosted its holdings in AllianceBernstein by 2.2% in the 1st quarter. Karpas Strategies LLC now owns 18,517 shares of the asset manager’s stock valued at $643,000 after purchasing an additional 407 shares during the last quarter. Creative Planning grew its stake in shares of AllianceBernstein by 3.2% in the 3rd quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock valued at $524,000 after buying an additional 469 shares during the period. Raymond James Trust N.A. increased its holdings in shares of AllianceBernstein by 8.1% during the 2nd quarter. Raymond James Trust N.A. now owns 9,546 shares of the asset manager’s stock worth $323,000 after buying an additional 713 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position 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 buying an additional 764 shares during the period. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI lifted their target price on AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen raised their price target on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Barclays lifted their target price on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AllianceBernstein currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

Insider Buying and Selling

In other AllianceBernstein news, insider Equitable Holdings, Inc. bought 500,000 shares of the business’s stock in a transaction dated 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 acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the transaction, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the acquisition, the insider now owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

AllianceBernstein Trading Up 0.4 %

NYSE:AB traded up $0.16 during midday trading on Tuesday, hitting $36.27. 12,253 shares of the company were exchanged, compared to its average volume of 292,854. AllianceBernstein Holding L.P. has a fifty-two week low of $25.83 and a fifty-two week high of $38.96. The company has a market capitalization of $4.18 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The company has a fifty day simple moving average of $35.47 and a 200 day simple moving average of $34.33.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 4th will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.49%. AllianceBernstein’s dividend payout ratio is 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.