D.A. Davidson & CO. Has $4.81 Million Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

D.A. Davidson & CO. lowered its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 137,735 shares of the asset manager’s stock after selling 923 shares during the period. D.A. Davidson & CO.’s holdings in AllianceBernstein were worth $4,806,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AB. NBC Securities Inc. raised its position in shares of AllianceBernstein by 80.8% during 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 period. SJS Investment Consulting Inc. acquired a new position in AllianceBernstein during the second quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein during the third quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its position in shares of AllianceBernstein by 1,354.0% during the first 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 raised its holdings in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after acquiring an additional 764 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at AllianceBernstein

In other news, insider Equitable Holdings, Inc. acquired 500,000 shares of AllianceBernstein stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the purchase, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

AllianceBernstein Stock Performance

Shares of AB opened at $36.65 on Thursday. The firm has a market cap of $4.22 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.23. AllianceBernstein Holding L.P. has a fifty-two week low of $27.71 and a fifty-two week high of $38.96. The business has a 50-day moving average of $36.27 and a 200 day moving average of $34.70.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, November 4th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a yield of 8.40%. AllianceBernstein’s dividend payout ratio (DPR) is 88.25%.

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.