AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 23,500 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $24.93, for a total transaction of $585,855.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of AllianceBernstein Holding L.P. (NYSE:AB) traded up 0.99% during midday trading on Thursday, reaching $25.50. 68,914 shares of the company’s stock traded hands. The stock’s 50 day moving average is $24.03 and its 200-day moving average is $23.28. The company has a market capitalization of $2.38 billion, a PE ratio of 11.71 and a beta of 1.51. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last announced its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The business had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $771.88 million. During the same quarter last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts forecast that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current fiscal year.
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Several equities research analysts recently commented on AB shares. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Zacks Investment Research lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 29th. Finally, BidaskClub raised shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.75.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. WFG Advisors LP boosted its stake 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. boosted its stake 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 boosted its stake 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 boosted its stake in shares of AllianceBernstein Holding L.P. by 5.2% during the second quarter. Royal Bank of Canada now owns 96,449 shares of the asset manager’s stock valued at $2,282,000 after acquiring an additional 4,750 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of AllianceBernstein Holding L.P. during the second quarter valued at $769,000. 19.40% of the stock is currently owned by institutional investors and hedge funds.
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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