Koch Industries Inc. Invests $275,000 in AllianceBernstein (AB) Stock

Koch Industries Inc. bought a new stake in shares of AllianceBernstein (NYSE:AB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,993 shares of the asset manager’s stock, valued at approximately $275,000.

Several other large investors have also bought and sold shares of AB. JPMorgan Chase & Co. grew its position in shares of AllianceBernstein by 787.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,134 shares of the asset manager’s stock valued at $11,107,000 after buying an additional 404,727 shares during the last quarter. Wells Fargo & Company MN boosted its stake in AllianceBernstein by 57.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,100,495 shares of the asset manager’s stock valued at $27,568,000 after purchasing an additional 402,497 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in AllianceBernstein during the 3rd quarter valued at about $7,290,000. Arrowstreet Capital Limited Partnership boosted its stake in AllianceBernstein by 1,692.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 275,028 shares of the asset manager’s stock valued at $6,889,000 after purchasing an additional 259,682 shares during the period. Finally, Seminole Management Co. Inc. lifted its stake in shares of AllianceBernstein by 216.2% in the 4th quarter. Seminole Management Co. Inc. now owns 239,399 shares of the asset manager’s stock worth $5,997,000 after acquiring an additional 163,694 shares during the period. Institutional investors and hedge funds own 22.83% of the company’s stock.

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In other news, General Counsel Laurence E. Cranch sold 40,848 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $26.26, for a total value of $1,072,668.48. Following the transaction, the general counsel now owns 134,269 shares of the company’s stock, valued at approximately $3,525,903.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Laurence E. Cranch sold 37,500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $26.32, for a total transaction of $987,000.00. Following the completion of the transaction, the general counsel now directly owns 150,707 shares in the company, valued at approximately $3,966,608.24. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.

Shares of AB traded down $0.40 during mid-day trading on Friday, hitting $26.35. 342,018 shares of the company’s stock were exchanged, compared to its average volume of 312,408. AllianceBernstein has a twelve month low of $20.40 and a twelve month high of $28.15. The firm has a market cap of $2,570.71, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.19. AllianceBernstein had a net margin of 6.30% and a return on equity of 14.72%. The business had revenue of $919.14 million during the quarter, compared to the consensus estimate of $839.49 million. During the same period in the prior year, the firm earned $0.67 EPS. AllianceBernstein’s quarterly revenue was up 16.9% compared to the same quarter last year. research analysts anticipate that AllianceBernstein will post 2.52 EPS for the current year.

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AllianceBernstein Profile

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

Institutional Ownership by Quarter for AllianceBernstein (NYSE:AB)

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