AllianceBernstein (NYSE:AB) Price Target Lowered to $36.00 at Barclays

AllianceBernstein (NYSE:AB) had its price objective cut by Barclays from $39.00 to $36.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

AB has been the subject of a number of other reports. Evercore ISI upped their target price 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 target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.40.

AllianceBernstein Trading Up 2.0 %

AllianceBernstein stock opened at $36.30 on Monday. AllianceBernstein has a 12-month low of $28.68 and a 12-month high of $38.96. The stock has a market cap of $4.18 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. The company has a fifty day simple moving average of $36.50 and a 200-day simple moving average of $34.86.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were paid a dividend of $0.77 per share. 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 8.48%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s dividend payout ratio (DPR) is currently 88.25%.

Insiders Place Their Bets

In other AllianceBernstein news, insider Equitable Holdings, Inc. acquired 500,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. The trade was a 19.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AllianceBernstein

Large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after acquiring an additional 329 shares in the last quarter. Captrust Financial Advisors grew its holdings in AllianceBernstein by 4.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after acquiring an additional 355 shares in the last quarter. Second Line Capital LLC grew its holdings in AllianceBernstein by 5.9% during the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock worth $276,000 after acquiring an additional 443 shares in the last quarter. Creative Planning grew its holdings in AllianceBernstein by 3.2% during the 3rd quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after acquiring an additional 469 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in AllianceBernstein by 3.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock worth $679,000 after acquiring an additional 549 shares in the last quarter. 19.25% of the stock is owned by institutional investors and hedge funds.

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.