AllianceBernstein Holding L.P. (NYSE:AB) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 175.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 71,287 shares of the asset manager’s stock after acquiring an additional 45,413 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in AllianceBernstein were worth $2,644,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in AllianceBernstein during the 3rd quarter worth $786,000. Aptus Capital Advisors LLC boosted its stake in AllianceBernstein by 8.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 8,122 shares of the asset manager’s stock worth $283,000 after purchasing an additional 610 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in AllianceBernstein during the 3rd quarter worth $238,000. Segall Bryant & Hamill LLC acquired a new stake in AllianceBernstein during the 3rd quarter worth $492,000. Finally, Jennison Associates LLC boosted its stake in AllianceBernstein by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock worth $30,645,000 after purchasing an additional 95,847 shares during the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analyst Ratings Changes

AB has been the topic of several recent research reports. Sanford C. Bernstein set a $45.00 target price on shares of AllianceBernstein in a research note on Thursday, January 16th. Barclays lowered their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Finally, TD Cowen cut shares of AllianceBernstein from a “buy” rating to a “hold” rating and boosted their price target for the company from $38.00 to $38.50 in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

AllianceBernstein Trading Up 1.4 %

Shares of AB stock opened at $37.07 on Monday. The company’s 50-day moving average price is $37.51 and its 200-day moving average price is $36.50. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.78 and a beta of 1.25. AllianceBernstein Holding L.P. has a twelve month low of $30.57 and a twelve month high of $41.37.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. As a group, equities research analysts predict that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.05 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a yield of 11.33%. The ex-dividend date of this dividend was Tuesday, February 18th. AllianceBernstein’s payout ratio is 112.90%.

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.