AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 7,000 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $24.70, for a total transaction of $172,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
AllianceBernstein Holding L.P. (NYSE AB) opened at 25.00 on Tuesday. The company has a market capitalization of $2.34 billion, a P/E ratio of 11.48 and a beta of 1.51. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The company’s 50-day moving average is $24.15 and its 200 day moving average is $23.34.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company had revenue of $802.31 million for the quarter, compared to the consensus estimate of $771.88 million. During the same period in the previous year, the firm earned $0.39 earnings per share. AllianceBernstein Holding L.P.’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current year.
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AB has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. Finally, BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.75.
Several institutional investors and hedge funds have recently made changes to their positions in the business. WFG Advisors LP increased its position in shares of AllianceBernstein Holding L.P. by 24.2% during the second quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 1,228 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of AllianceBernstein Holding L.P. by 70.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 75,524 shares of the asset manager’s stock valued at $1,786,000 after acquiring an additional 31,107 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of AllianceBernstein Holding L.P. by 399.3% during the second quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock valued at $354,000 after acquiring an additional 11,980 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of AllianceBernstein Holding L.P. by 5.2% in the second quarter. Royal Bank of Canada now owns 96,449 shares of the asset manager’s stock valued at $2,282,000 after purchasing an additional 4,750 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of AllianceBernstein Holding L.P. in the second quarter valued at approximately $769,000. Institutional investors and hedge funds own 19.42% of the company’s stock.
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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