Barclays Has Lowered Expectations for AllianceBernstein (NYSE:AB) Stock Price

AllianceBernstein (NYSE:AB) had its price target trimmed by Barclays from $39.00 to $36.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

Several other equities analysts have also issued reports on AB. Evercore ISI upped their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.40.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $36.23 on Monday. The firm has a 50 day simple moving average of $36.56 and a 200 day simple moving average of $34.88. AllianceBernstein has a fifty-two week low of $29.59 and a fifty-two week high of $38.96. The firm has a market cap of $4.17 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.82 and a beta of 1.21.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were paid 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 annualized dividend and a yield of 8.50%. AllianceBernstein’s dividend payout ratio (DPR) is presently 88.25%.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. acquired 500,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, 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. Insiders own 2.70% of the company’s stock.

Institutional Trading of AllianceBernstein

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in shares of 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. Captrust Financial Advisors grew its holdings in shares of AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after buying an additional 355 shares in the last quarter. Second Line Capital LLC raised its position in AllianceBernstein by 5.9% in the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock valued at $276,000 after buying an additional 443 shares during the last quarter. Creative Planning lifted its stake in AllianceBernstein by 3.2% in the 3rd quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock valued at $524,000 after acquiring an additional 469 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position 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 during the last quarter. 19.25% of the stock is currently 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.