Koshinski Asset Management Inc. Raises Holdings in AllianceBernstein Holding L.P. $AB

Koshinski Asset Management Inc. lifted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 12.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,165 shares of the asset manager’s stock after buying an additional 700 shares during the quarter. Koshinski Asset Management Inc.’s holdings in AllianceBernstein were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Disciplined Equity Management Inc. boosted its stake in shares of AllianceBernstein by 12.1% in the second quarter. Disciplined Equity Management Inc. now owns 60,293 shares of the asset manager’s stock worth $2,462,000 after buying an additional 6,490 shares during the last quarter. Joel Adams & Associates Inc. purchased a new position in AllianceBernstein during the second quarter worth approximately $204,000. Concurrent Investment Advisors LLC boosted its position in AllianceBernstein by 2.8% during the second quarter. Concurrent Investment Advisors LLC now owns 17,256 shares of the asset manager’s stock worth $705,000 after purchasing an additional 465 shares in the last quarter. Apollon Wealth Management LLC boosted its position in AllianceBernstein by 24.9% during the second quarter. Apollon Wealth Management LLC now owns 25,635 shares of the asset manager’s stock worth $1,047,000 after purchasing an additional 5,107 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new position in AllianceBernstein during the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

NYSE AB opened at $40.01 on Wednesday. The company has a market cap of $4.42 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The stock’s 50 day simple moving average is $38.99 and its 200-day simple moving average is $39.51. AllianceBernstein Holding L.P. has a 1-year low of $32.28 and a 1-year high of $43.30.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, July 24th. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). AllianceBernstein had a net margin of 8.35% and a return on equity of 18.63%. The firm had revenue of $844.43 million during the quarter, compared to analysts’ expectations of $853.64 million. During the same quarter last year, the business earned $0.71 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Monday, August 4th. AllianceBernstein’s dividend payout ratio (DPR) is currently 90.21%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AB shares. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Bank of America increased their price target on AllianceBernstein from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. The Goldman Sachs Group downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $42.25 to $40.00 in a research report on Friday, June 27th. Finally, Barclays decreased their target price on AllianceBernstein from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.33.

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.