Nicola Wealth Management LTD. Acquires 48,000 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Nicola Wealth Management LTD. raised its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,000 shares of the asset manager’s stock after purchasing an additional 48,000 shares during the period. Nicola Wealth Management LTD. owned 0.13% of AllianceBernstein worth $5,408,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AB. Sei Investments Co. grew its holdings in shares of AllianceBernstein by 159.4% during the first quarter. Sei Investments Co. now owns 154,598 shares of the asset manager’s stock valued at $5,371,000 after buying an additional 94,989 shares during the last quarter. US Bancorp DE boosted its holdings in AllianceBernstein by 12.3% in the first quarter. US Bancorp DE now owns 9,506 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 1,040 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in AllianceBernstein by 65.7% in the first quarter. Avantax Advisory Services Inc. now owns 13,277 shares of the asset manager’s stock valued at $461,000 after purchasing an additional 5,263 shares during the last quarter. Prevail Innovative Wealth Advisors LLC boosted its holdings in AllianceBernstein by 25.1% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 29,501 shares of the asset manager’s stock valued at $1,025,000 after purchasing an additional 5,916 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in AllianceBernstein by 13.1% in the first quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock valued at $7,481,000 after purchasing an additional 24,951 shares during the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AllianceBernstein

In related news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the sale, the director now owns 25,923 shares of the company’s stock, valued at $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the completion of the transaction, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the acquisition, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AB has been the topic of several recent research reports. Evercore ISI upped 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. The Goldman Sachs Group upped 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. TD Cowen increased their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Barclays upped their price target on shares of AllianceBernstein from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

AllianceBernstein Stock Performance

Shares of NYSE AB traded up $0.76 during midday trading on Thursday, reaching $36.55. 53,311 shares of the stock were exchanged, compared to its average volume of 294,709. The stock has a market capitalization of $4.21 billion, a P/E ratio of 10.25, a PEG ratio of 0.83 and a beta of 1.23. The company has a 50 day simple moving average of $35.83 and a 200 day simple moving average of $34.48. AllianceBernstein Holding L.P. has a twelve month low of $27.16 and a twelve month high of $38.96.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 4th will be given a dividend of $0.77 per share. The ex-dividend date is Monday, November 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.43%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

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.