AllianceBernstein Holding L.P. (NYSE:AB) Stock Holdings Lessened by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,843 shares of the asset manager’s stock after selling 653 shares during the period. Kovitz Investment Group Partners LLC’s holdings in AllianceBernstein were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its position in AllianceBernstein by 2.6% during the 3rd quarter. Stifel Financial Corp now owns 208,120 shares of the asset manager’s stock worth $7,261,000 after purchasing an additional 5,196 shares in the last quarter. Phase 2 Partners LLC purchased a new position in shares of AllianceBernstein during the 3rd quarter valued at $2,125,000. FSA Wealth Management LLC purchased a new position in shares of AllianceBernstein during the 3rd quarter valued at $36,000. Captrust Financial Advisors grew its holdings in shares of AllianceBernstein by 4.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 355 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of AllianceBernstein by 11.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,329 shares of the asset manager’s stock valued at $1,093,000 after acquiring an additional 3,339 shares in the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on AB shares. Barclays lowered 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. Evercore ISI boosted 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. Finally, The Goldman Sachs Group boosted 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Trading Down 0.4 %

Shares of NYSE:AB opened at $36.02 on Friday. The stock has a market capitalization of $4.15 billion, a PE ratio of 10.32, a P/E/G ratio of 0.83 and a beta of 1.21. AllianceBernstein Holding L.P. has a 1 year low of $30.10 and a 1 year high of $38.96. The firm has a fifty day moving average price of $36.61 and a 200 day moving average price of $34.91.

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 a boost from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a yield of 8.55%. AllianceBernstein’s dividend payout ratio is currently 88.25%.

Insider Buying and Selling

In other news, insider Equitable Holdings, Inc. bought 500,000 shares of the business’s stock in a transaction on 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 approximately $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

About AllianceBernstein

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.