FSA Wealth Management LLC Makes New $36,000 Investment in AllianceBernstein Holding L.P. (NYSE:AB)

FSA Wealth Management LLC purchased a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,021 shares of the asset manager’s stock, valued at approximately $36,000.

Several other large investors have also recently made changes to their positions in AB. NBC Securities Inc. boosted its position in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares in the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of AllianceBernstein in the 2nd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in shares of AllianceBernstein in the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its stake in shares of AllianceBernstein by 1,354.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after acquiring an additional 1,354 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 764 shares in the last quarter. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Stock Performance

Shares of AB opened at $36.27 on Monday. AllianceBernstein Holding L.P. has a one year low of $28.02 and a one year high of $38.96. The stock has a market cap of $4.18 billion, a P/E ratio of 10.39, a P/E/G ratio of 0.83 and a beta of 1.23. The stock has a 50-day moving average of $36.36 and a two-hundred day moving average of $34.77.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were given a dividend of $0.77 per share. The ex-dividend date was Monday, November 4th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a yield of 8.49%. AllianceBernstein’s dividend payout ratio (DPR) is currently 88.25%.

Analyst Upgrades and Downgrades

AB has been the subject of several analyst reports. Evercore ISI increased their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays upped 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. Finally, The Goldman Sachs Group raised their price target on 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Activity

In related news, insider Equitable Holdings, Inc. acquired 500,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $104,824,522.84. This represents a 19.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

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.