AllianceBernstein Holding L.P. (NYSE:AB) Shares Purchased by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. grew its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 44.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,000 shares of the asset manager’s stock after purchasing an additional 48,000 shares during the period. Nicola Wealth Management LTD.’s holdings in AllianceBernstein were worth $5,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in AllianceBernstein by 231.8% during the first quarter. Cetera Investment Advisers now owns 127,220 shares of the asset manager’s stock worth $4,420,000 after buying an additional 88,875 shares during the period. Epoch Investment Partners Inc. lifted its holdings in AllianceBernstein by 24.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 160,671 shares of the asset manager’s stock worth $5,582,000 after buying an additional 31,399 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in AllianceBernstein by 13.1% during the 1st quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock worth $7,481,000 after buying an additional 24,951 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of AllianceBernstein during the 3rd quarter worth approximately $671,000. Finally, International Assets Investment Management LLC acquired a new stake in AllianceBernstein in the 3rd quarter valued at approximately $31,650,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. purchased 500,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. The trade was 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 company’s stock in a transaction on Friday, September 20th. The stock was bought at an average price 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 approximately $104,824,522.84. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $139,480.00. Following the completion of the sale, the director now owns 25,923 shares of the company’s stock, valued at $903,935.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

AllianceBernstein Trading Up 2.1 %

AB stock traded up $0.76 during trading on Thursday, reaching $36.55. 53,311 shares of the stock were exchanged, compared to its average volume of 294,709. The stock has a 50 day simple moving average of $35.83 and a 200-day simple moving average of $34.48. The company has a market capitalization of $4.21 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. AllianceBernstein Holding L.P. has a twelve month low of $27.16 and a twelve month high of $38.96.

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 dividend on an annualized basis and a yield of 8.43%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, November 4th. AllianceBernstein’s payout ratio is presently 88.25%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. TD Cowen increased their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays increased their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Evercore ISI raised their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

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.