AllianceBernstein Holding L.P. (NYSE:AB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lessened its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,610 shares of the asset manager’s stock after selling 1,647 shares during the period. Kovack Advisors Inc.’s holdings in AllianceBernstein were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of AllianceBernstein by 8.9% in the second quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock valued at $97,090,000 after buying an additional 234,253 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in AllianceBernstein by 1,019.7% during the third quarter. Crestwood Advisors Group LLC now owns 280,961 shares of the asset manager’s stock valued at $9,803,000 after purchasing an additional 255,868 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of AllianceBernstein by 426.8% in the second quarter. The Manufacturers Life Insurance Company now owns 273,695 shares of the asset manager’s stock valued at $9,248,000 after purchasing an additional 221,736 shares during the period. Osaic Holdings Inc. increased its stake in shares of AllianceBernstein by 13.1% during the first quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock worth $7,481,000 after purchasing an additional 24,951 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of AllianceBernstein by 0.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 177,472 shares of the asset manager’s stock worth $5,997,000 after purchasing an additional 841 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AB. TD Cowen boosted their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays raised their price target on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI increased their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

AllianceBernstein Price Performance

Shares of AB opened at $37.05 on Friday. The firm has a fifty day moving average price of $35.83 and a 200 day moving average price of $34.48. The stock has a market cap of $4.27 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. AllianceBernstein Holding L.P. has a 1-year low of $27.16 and a 1-year high of $38.96.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 4th will be issued a $0.77 dividend. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.31%. The ex-dividend date of this dividend is Monday, November 4th. AllianceBernstein’s dividend payout ratio is presently 88.25%.

Insider Transactions at AllianceBernstein

In related news, insider Equitable Holdings, Inc. purchased 500,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the purchase, the insider now directly owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. This trade represents a 19.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the transaction, the director now owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

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.