AllianceBernstein Holding L.P. (NYSE:AB) Director Scott A. Schoen sold 15,627 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.91, for a total transaction of $326,760.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
AllianceBernstein Holding L.P. (NYSE AB) traded up 0.87% during midday trading on Friday, reaching $23.30. 196,070 shares of the company’s stock traded hands. AllianceBernstein Holding L.P. has a 52-week low of $20.40 and a 52-week high of $25.12. The firm has a market cap of $2.25 billion, a PE ratio of 10.88 and a beta of 1.50. The firm’s 50-day moving average is $21.92 and its 200 day moving average is $22.78.
AllianceBernstein Holding L.P. (NYSE:AB) last released its quarterly earnings data 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 analysts’ expectations of $746.52 million. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts expect that AllianceBernstein Holding L.P. will post $2.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, May 4th. This represents a $1.84 annualized dividend and a dividend yield of 7.90%. AllianceBernstein Holding L.P.’s payout ratio is 85.19%.
TRADEMARK VIOLATION WARNING: This article was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.themarketsdaily.com/2017/06/16/scott-a-schoen-sells-15627-shares-of-alliancebernstein-holding-lp-ab-stock-updated-updated.html.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texan Capital Management boosted its position in AllianceBernstein Holding L.P. by 10.0% in the third quarter. Texan Capital Management now owns 66,475 shares of the asset manager’s stock valued at $1,516,000 after buying an additional 6,040 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in AllianceBernstein Holding L.P. during the fourth quarter valued at $1,380,000. New England Research & Management Inc. boosted its position in AllianceBernstein Holding L.P. by 9.4% in the first quarter. New England Research & Management Inc. now owns 76,128 shares of the asset manager’s stock valued at $1,740,000 after buying an additional 6,540 shares during the last quarter. Creative Planning boosted its position in AllianceBernstein Holding L.P. by 6.8% in the first quarter. Creative Planning now owns 18,162 shares of the asset manager’s stock valued at $415,000 after buying an additional 1,160 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in AllianceBernstein Holding L.P. by 4.9% in the first quarter. Sigma Planning Corp now owns 16,180 shares of the asset manager’s stock valued at $370,000 after buying an additional 752 shares during the last quarter. 22.49% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on AB shares. Zacks Investment Research upgraded shares of AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a report on Thursday, February 16th. Keefe, Bruyette & Woods upgraded shares of AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a report on Wednesday, April 12th. Bank of America Corporation upgraded shares of AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and increased their price objective for the company from $24.00 to $25.00 in a research note on Wednesday, April 12th. ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Sidoti began coverage on shares of AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They issued a “buy” rating and a $28.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently 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.
Receive News & Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related companies with MarketBeat.com's FREE daily email newsletter.