AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 21,000 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $23.55, for a total value of $494,550.00. Following the completion of the transaction, the chief operating officer now owns 335,581 shares of the company’s stock, valued at $7,902,932.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
AllianceBernstein Holding L.P. (NYSE AB) traded up 0.61% during midday trading on Monday, hitting $24.65. The stock had a trading volume of 86,862 shares. The stock’s 50-day moving average is $22.43 and its 200-day moving average is $22.81. The company has a market cap of $2.38 billion, a P/E ratio of 11.51 and a beta of 1.55. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $25.12.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, April 27th. The asset manager reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $746.52 million. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that AllianceBernstein Holding L.P. will post $2.03 EPS for the current fiscal year.
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Several equities research analysts have commented on AB shares. Bank of America Corporation upgraded AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and upped their price target for the stock from $24.00 to $25.00 in a research note on Wednesday, April 12th. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday. Sidoti started coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods upgraded AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.60.
Several institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP acquired a new position in AllianceBernstein Holding L.P. during the fourth quarter valued at about $117,000. Advocacy Wealth Management Services LLC increased its position in AllianceBernstein Holding L.P. by 29.0% in the first quarter. Advocacy Wealth Management Services LLC now owns 4,450 shares of the asset manager’s stock valued at $102,000 after buying an additional 1,000 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in AllianceBernstein Holding L.P. by 28.8% in the first quarter. TCI Wealth Advisors Inc. now owns 5,556 shares of the asset manager’s stock valued at $127,000 after buying an additional 1,244 shares during the last quarter. Snow Capital Management LP acquired a new position in AllianceBernstein Holding L.P. during the first quarter valued at about $200,000. Finally, Wade G W & Inc. acquired a new position in AllianceBernstein Holding L.P. during the first quarter valued at about $203,000. 22.91% of the stock is owned by hedge funds and other institutional investors.
AllianceBernstein Holding L.P. Company Profile
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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