AllianceBernstein Holding L.P. (NYSE:AB) – Equities researchers at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for shares of AllianceBernstein Holding L.P. in a report released on Tuesday. Jefferies Group analyst S. Thind now anticipates that the asset manager will post earnings per share of $2.28 for the year, down from their previous estimate of $2.29.
Several other equities analysts have also recently issued reports on AB. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. Zacks Investment Research cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Finally, BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Four investment 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’s stock. The stock has an average rating of “Buy” and an average target price of $26.75.
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AllianceBernstein Holding L.P. (AB) traded up 0.099% during mid-day trading on Thursday, reaching $25.275. 161,868 shares of the company’s stock were exchanged. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The stock has a 50-day moving average of $24.03 and a 200-day moving average of $23.28. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 11.610 and a beta of 1.51.
AllianceBernstein Holding L.P. (NYSE:AB) last released its 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. The business had revenue of $802.31 million during the quarter, compared to the consensus estimate of $771.88 million. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS.
In other news, insider Axa America Holdings, Inc. purchased 1,071,180 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average cost of $22.90 per share, with a total value of $24,530,022.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James A. Gingrich sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $24.98, for a total value of $249,800.00. Following the completion of the sale, the chief operating officer now directly owns 55,659 shares in the company, valued at $1,390,361.82. The disclosure for this sale can be found here. Insiders have sold 580,832 shares of company stock worth $13,999,784 over the last three months. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its stake in AllianceBernstein Holding L.P. by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,207 shares of the asset manager’s stock worth $370,000 after purchasing an additional 541 shares during the period. Symons Capital Management Inc. grew its stake in AllianceBernstein Holding L.P. by 2.9% in the second quarter. Symons Capital Management Inc. now owns 20,105 shares of the asset manager’s stock worth $476,000 after purchasing an additional 565 shares during the period. Blue Fin Capital Inc. grew its stake in AllianceBernstein Holding L.P. by 2.3% in the second quarter. Blue Fin Capital Inc. now owns 26,383 shares of the asset manager’s stock worth $623,000 after purchasing an additional 600 shares during the period. Sigma Planning Corp grew its stake in AllianceBernstein Holding L.P. by 4.0% in the second quarter. Sigma Planning Corp now owns 16,827 shares of the asset manager’s stock worth $398,000 after purchasing an additional 647 shares during the period. Finally, WFG Advisors LP grew its stake in AllianceBernstein Holding L.P. by 24.2% in the second quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock worth $149,000 after purchasing an additional 1,228 shares during the period. 19.40% of the stock is currently owned by 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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