Press coverage about AllianceBernstein (NYSE:AB) has trended somewhat positive on Wednesday, according to Accern. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. AllianceBernstein earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned media coverage about the asset manager an impact score of 45.3567576862229 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- AB Announces February 28, 2018 Assets Under Management – Markets Insider (markets.businessinsider.com)
- Exclusive: New York financial powerhouse scouts Nashville for giant office – Nashville Business Journal (bizjournals.com)
- AB Announces February 28, 2018 Assets Under Management – PR Newswire (press release) (prnewswire.com)
- GAM Says Conditions for Deep Correction Aren't Apparent (finance.yahoo.com)
AllianceBernstein (AB) traded down $0.41 during trading on Wednesday, reaching $26.34. 77,139 shares of the company’s stock were exchanged, compared to its average volume of 321,645. The firm has a market capitalization of $2,580.00, a P/E ratio of 10.87, a PEG ratio of 1.20 and a beta of 1.44. AllianceBernstein has a 1 year low of $20.40 and a 1 year high of $28.15.
AB has been the topic of a number of analyst reports. ValuEngine upgraded shares of AllianceBernstein from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of AllianceBernstein from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday, December 19th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $28.00.
In related news, General Counsel Laurence E. Cranch sold 37,500 shares of AllianceBernstein 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 sale, the general counsel now directly owns 150,707 shares in the company, valued at $3,966,608.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Laurence E. Cranch sold 40,848 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $26.26, for a total transaction of $1,072,668.48. Following the completion of the sale, the general counsel now owns 134,269 shares in the company, valued at $3,525,903.94. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
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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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