Stifel Financial Corp Purchases 5,196 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Stifel Financial Corp lifted its position in AllianceBernstein Holding L.P. (NYSE:AB) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 208,120 shares of the asset manager’s stock after purchasing an additional 5,196 shares during the period. Stifel Financial Corp’s holdings in AllianceBernstein were worth $7,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. grew its holdings in shares of AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the last quarter. Truvestments Capital LLC bought a new stake in AllianceBernstein in the third quarter valued at $31,000. FSA Wealth Management LLC bought a new stake in AllianceBernstein in the third quarter valued at $36,000. Farther Finance Advisors LLC boosted its holdings 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. Finally, Larson Financial Group LLC bought a new stake in AllianceBernstein in the second quarter valued at $51,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Trading Down 0.4 %

Shares of AB stock opened at $36.02 on Friday. AllianceBernstein Holding L.P. has a 12 month low of $30.10 and a 12 month high of $38.96. The stock has a market cap of $4.15 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The company’s fifty day moving average price is $36.61 and its 200-day moving average price is $34.91.

AllianceBernstein Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date of this dividend was Monday, November 4th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is 88.25%.

Analyst Ratings Changes

AB has been the topic of several recent analyst reports. Evercore ISI lifted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays cut their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AllianceBernstein currently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

Insider Activity

In related news, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction dated Friday, September 20th. The stock was purchased at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares in the company, valued at $104,824,522.84. This trade represents a 19.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.