Wilmington Savings Fund Society FSB Takes Position in AllianceBernstein Holding L.P. (NYSE:AB)

Wilmington Savings Fund Society FSB bought a new position in AllianceBernstein Holding L.P. (NYSE:AB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,150 shares of the asset manager’s stock, valued at approximately $180,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AB. Highland Capital Management LLC raised its holdings in shares of AllianceBernstein by 40.2% during the 2nd quarter. Highland Capital Management LLC now owns 53,883 shares of the asset manager’s stock worth $1,821,000 after acquiring an additional 15,450 shares in the last quarter. Raymond James Trust N.A. lifted its position in AllianceBernstein by 8.1% during the second quarter. Raymond James Trust N.A. now owns 9,546 shares of the asset manager’s stock valued at $323,000 after purchasing an additional 713 shares during the last quarter. F M Investments LLC purchased a new position in shares of AllianceBernstein in the 2nd quarter worth $455,000. Rothschild Investment LLC bought a new stake in shares of AllianceBernstein in the 2nd quarter worth about $253,000. Finally, Nicola Wealth Management LTD. raised its position in shares of AllianceBernstein by 20.2% during the 2nd quarter. Nicola Wealth Management LTD. now owns 107,000 shares of the asset manager’s stock valued at $3,616,000 after buying an additional 18,000 shares in the last quarter. 19.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the transaction, the insider now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

AllianceBernstein Price Performance

Shares of NYSE AB opened at $34.69 on Thursday. AllianceBernstein Holding L.P. has a 1 year low of $30.10 and a 1 year high of $38.96. The firm has a 50-day simple moving average of $36.64 and a two-hundred day simple moving average of $34.96. The company has a market cap of $4.00 billion, a P/E ratio of 9.94, a PEG ratio of 0.83 and a beta of 1.21.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were paid 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 8.88%. The ex-dividend date was Monday, November 4th. AllianceBernstein’s dividend payout ratio (DPR) is currently 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.