Franklin Resources Inc. Has $14.92 Million Stock Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Franklin Resources Inc. increased its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 413,165 shares of the asset manager’s stock after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. owned approximately 0.36% of AllianceBernstein worth $14,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AB. NBC Securities Inc. boosted its position in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares in the last quarter. Captrust Financial Advisors increased its position in AllianceBernstein by 4.9% in the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock valued at $265,000 after buying an additional 355 shares in the last quarter. Second Line Capital LLC raised its stake in AllianceBernstein by 5.9% during the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock worth $276,000 after buying an additional 443 shares during the period. Creative Planning boosted its holdings in AllianceBernstein by 3.2% in the third quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after acquiring an additional 469 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in AllianceBernstein by 3.0% in the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock valued at $679,000 after acquiring an additional 549 shares during the period. 19.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AB has been the topic of a number of research reports. Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays lowered their price objective 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 objective 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

AllianceBernstein Trading Up 4.9 %

Shares of NYSE:AB opened at $37.26 on Friday. The stock has a market cap of $4.29 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The stock’s fifty day simple moving average is $36.69 and its two-hundred day simple moving average is $34.98. AllianceBernstein Holding L.P. has a 1-year low of $30.10 and a 1-year high of $38.96.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were given a dividend of $0.77 per share. 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 dividend yield of 8.27%. The ex-dividend date was Monday, November 4th. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

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.