FSA Wealth Management LLC Invests $36,000 in AllianceBernstein Holding L.P. (NYSE:AB)

FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,021 shares of the asset manager’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. grew its position in shares of AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in AllianceBernstein in the 2nd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of AllianceBernstein during the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC boosted its position in shares of AllianceBernstein by 1,354.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 764 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Stock Down 1.1 %

Shares of AllianceBernstein stock opened at $36.27 on Monday. AllianceBernstein Holding L.P. has a 52 week low of $28.02 and a 52 week high of $38.96. The company has a market capitalization of $4.18 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. The stock’s fifty day moving average is $36.36 and its two-hundred day moving average is $34.77.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were issued a dividend of $0.77 per share. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. 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 8.49%. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AB. The Goldman Sachs Group boosted their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI boosted their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays increased their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling at AllianceBernstein

In other news, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was acquired at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the transaction, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This trade represents a 19.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate insiders.

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.