D.A. Davidson & CO. Has $4.81 Million Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

D.A. Davidson & CO. lessened its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,735 shares of the asset manager’s stock after selling 923 shares during the quarter. D.A. Davidson & CO. owned approximately 0.12% of AllianceBernstein worth $4,806,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. boosted its stake in AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares during the period. Truvestments Capital LLC bought a new stake in shares of AllianceBernstein in the third quarter valued at about $31,000. SJS Investment Consulting Inc. acquired a new position in shares of AllianceBernstein in the second quarter valued at about $31,000. Farther Finance Advisors LLC increased its position in AllianceBernstein by 115.4% during the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after acquiring an additional 764 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in AllianceBernstein by 1,354.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock worth $49,000 after purchasing an additional 1,354 shares in the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AB has been the topic of a number of analyst reports. Evercore ISI increased their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays raised their price objective on AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research 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’s stock. Based on data from MarketBeat.com, AllianceBernstein currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insiders Place Their Bets

In other AllianceBernstein news, insider Equitable Holdings, Inc. bought 500,000 shares of AllianceBernstein stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at $104,824,522.84. The trade was a 19.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

AllianceBernstein Trading Up 2.4 %

AB stock opened at $36.65 on Thursday. The stock has a market capitalization of $4.22 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.23. The firm has a 50-day moving average price of $36.27 and a 200-day moving average price of $34.70. AllianceBernstein Holding L.P. has a 12 month low of $27.71 and a 12 month high of $38.96.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a yield of 8.40%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. 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.