Moody Aldrich Partners LLC Invests $2.07 Million in AllianceBernstein Holding L.P. (NYSE:AB)

Moody Aldrich Partners LLC acquired a new position in AllianceBernstein Holding L.P. (NYSE:AB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,294 shares of the asset manager’s stock, valued at approximately $2,069,000. Moody Aldrich Partners LLC owned approximately 0.05% of AllianceBernstein as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in shares of AllianceBernstein in the 1st quarter valued at about $42,000. Kovack Advisors Inc. acquired a new stake in AllianceBernstein in the first quarter valued at approximately $566,000. Private Advisor Group LLC grew its holdings in AllianceBernstein by 9.5% in the first quarter. Private Advisor Group LLC now owns 50,429 shares of the asset manager’s stock worth $1,752,000 after purchasing an additional 4,364 shares during the last quarter. Mission Wealth Management LP increased its position in shares of AllianceBernstein by 1.6% during the first quarter. Mission Wealth Management LP now owns 29,715 shares of the asset manager’s stock worth $1,032,000 after purchasing an additional 480 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in AllianceBernstein by 115.7% during the 1st quarter. BNP Paribas Financial Markets now owns 70,607 shares of the asset manager’s stock worth $2,453,000 after buying an additional 37,876 shares during the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

Insider Buying and Selling at AllianceBernstein

In related news, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the transaction, the director now owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the sale, the director now directly owns 25,923 shares of the company’s stock, valued at $903,935.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was bought 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 directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

AllianceBernstein Stock Up 0.8 %

Shares of NYSE:AB traded up $0.31 during trading on Thursday, hitting $37.96. 133,137 shares of the stock traded hands, compared to its average volume of 292,489. The company has a fifty day moving average price of $35.02 and a two-hundred day moving average price of $34.08. AllianceBernstein Holding L.P. has a 52-week low of $25.83 and a 52-week high of $38.96. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.66 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $807.42 million. During the same quarter in the prior year, the firm posted $0.61 EPS. AllianceBernstein’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that AllianceBernstein Holding L.P. will post 3.02 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.71 per share. The ex-dividend date was Monday, August 5th. This represents a $2.84 dividend on an annualized basis and a yield of 7.48%. AllianceBernstein’s payout ratio is 117.84%.

Analyst Ratings Changes

Several equities analysts recently commented on AB shares. TD Cowen increased their price objective on shares of AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 29th. 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. Barclays raised their price objective on AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, Evercore ISI increased their price target on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AllianceBernstein currently has an average rating of “Moderate Buy” and a consensus target price of $41.20.

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.