Pure Financial Advisors LLC Decreases Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Pure Financial Advisors LLC cut its stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 6.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,894 shares of the asset manager’s stock after selling 382 shares during the quarter. Pure Financial Advisors LLC’s holdings in AllianceBernstein were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AB. Cetera Investment Advisers grew its position in shares of AllianceBernstein by 231.8% during the 1st quarter. Cetera Investment Advisers now owns 127,220 shares of the asset manager’s stock valued at $4,420,000 after acquiring an additional 88,875 shares during the period. BNP Paribas Financial Markets grew its position in shares of AllianceBernstein by 115.7% during the 1st quarter. BNP Paribas Financial Markets now owns 70,607 shares of the asset manager’s stock valued at $2,453,000 after acquiring an additional 37,876 shares during the period. Epoch Investment Partners Inc. grew its position in shares of AllianceBernstein by 24.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 160,671 shares of the asset manager’s stock valued at $5,582,000 after acquiring an additional 31,399 shares during the period. Jennison Associates LLC bought a new stake in shares of AllianceBernstein during the 1st quarter valued at $23,660,000. Finally, Osaic Holdings Inc. grew its position in shares of AllianceBernstein by 13.1% during the 1st quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock valued at $7,481,000 after acquiring an additional 24,951 shares during the period. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Stock Down 1.5 %

AB opened at $36.11 on Tuesday. The firm has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $34.33. AllianceBernstein Holding L.P. has a 52 week low of $25.83 and a 52 week high of $38.96. The company has a market capitalization of $4.16 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Monday, November 4th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 8.53%. The ex-dividend date of this dividend is Monday, November 4th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio is 81.38%.

Analyst Ratings Changes

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

Insider Buying and Selling at AllianceBernstein

In related 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 price 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 approximately $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other AllianceBernstein news, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the transaction, the insider now owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total transaction 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 disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

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.