11,243 Shares in AllianceBernstein Holding L.P. (NYSE:AB) Purchased by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. purchased a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 11,243 shares of the asset manager’s stock, valued at approximately $349,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC purchased a new stake in AllianceBernstein in the 3rd quarter valued at approximately $30,000. Barclays PLC purchased a new stake in AllianceBernstein in the 2nd quarter valued at approximately $38,000. Fortis Capital Advisors LLC purchased a new stake in AllianceBernstein in the 4th quarter valued at approximately $96,000. State of Wyoming boosted its holdings in AllianceBernstein by 100.6% in the 2nd quarter. State of Wyoming now owns 3,162 shares of the asset manager’s stock valued at $102,000 after purchasing an additional 1,586 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in AllianceBernstein in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $32.55 on Tuesday. AllianceBernstein Holding L.P. has a 1 year low of $25.83 and a 1 year high of $37.00. The company has a market capitalization of $3.72 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.64 and a beta of 1.25. The business has a 50 day moving average price of $33.65 and a 200 day moving average price of $31.52.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. AllianceBernstein had a return on equity of 14.88% and a net margin of 6.36%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same period in the previous year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts expect that AllianceBernstein Holding L.P. will post 3.05 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a $0.77 dividend. The ex-dividend date was Friday, February 16th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.65. This represents a $3.08 annualized dividend and a yield of 9.46%. AllianceBernstein’s payout ratio is 132.19%.

Analysts Set New Price Targets

Several brokerages have recently commented on AB. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. TD Cowen reissued a “buy” rating and set a $40.00 price target on shares of AllianceBernstein in a research note on Tuesday, April 9th. Finally, Evercore ISI reissued a “buy” rating and set a $38.00 price target on shares of AllianceBernstein in a research note on Tuesday, March 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.44.

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.