AllianceBernstein Holding L.P. (AB) COO James A. Gingrich Sells 21,000 Shares of Stock

AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 21,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $23.13, for a total transaction of $485,730.00. Following the completion of the sale, the chief operating officer now directly owns 356,581 shares in the company, valued at $8,247,718.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of AllianceBernstein Holding L.P. (AB) traded up 0.22% during mid-day trading on Tuesday, reaching $23.30. 424,211 shares of the company were exchanged. The stock has a market capitalization of $2.25 billion, a P/E ratio of 10.88 and a beta of 1.50. AllianceBernstein Holding L.P. has a 12 month low of $20.40 and a 12 month high of $25.12. The stock has a 50 day moving average price of $21.93 and a 200-day moving average price of $22.79.

AllianceBernstein Holding L.P. (NYSE:AB) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. AllianceBernstein Holding L.P. had a net margin of 9.74% and a return on equity of 18.31%. The firm had revenue of $764.92 million during the quarter, compared to the consensus estimate of $746.52 million. During the same quarter in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that AllianceBernstein Holding L.P. will post $2.00 earnings per share for the current year.

Insider Buying and Selling by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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A number of hedge funds and other institutional investors have recently made changes to their positions in AB. Morgan Stanley increased its position in shares of AllianceBernstein Holding L.P. by 166.0% in the first quarter. Morgan Stanley now owns 1,258,872 shares of the asset manager’s stock valued at $28,765,000 after buying an additional 785,538 shares during the last quarter. UBS Group AG increased its position in shares of AllianceBernstein Holding L.P. by 107.5% in the first quarter. UBS Group AG now owns 408,841 shares of the asset manager’s stock valued at $9,342,000 after buying an additional 211,845 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of AllianceBernstein Holding L.P. by 753.4% in the first quarter. Renaissance Technologies LLC now owns 219,325 shares of the asset manager’s stock valued at $5,012,000 after buying an additional 193,625 shares during the last quarter. Algebris Investments UK LLP purchased a new position in shares of AllianceBernstein Holding L.P. during the first quarter valued at $4,025,000. Finally, Bank of America Corp DE increased its position in shares of AllianceBernstein Holding L.P. by 11.7% in the first quarter. Bank of America Corp DE now owns 1,512,976 shares of the asset manager’s stock valued at $34,571,000 after buying an additional 159,069 shares during the last quarter. 22.46% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on AB shares. Keefe, Bruyette & Woods raised shares of AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 12th. Bank of America Corporation raised shares of AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and increased their price target for the stock from $24.00 to $25.00 in a report on Wednesday, April 12th. Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, April 25th. ValuEngine downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Sidoti assumed coverage on shares of AllianceBernstein Holding L.P. in a report on Monday, June 5th. They set a “buy” rating and a $28.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. AllianceBernstein Holding L.P. currently has an average rating of “Hold” and a consensus target price of $25.50.

About AllianceBernstein Holding L.P.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

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