Insider Selling: AllianceBernstein Holding LP (NYSE:AB) CFO Sells 32,723 Shares of Stock

AllianceBernstein Holding LP (NYSE:AB) CFO John C. Weisenseel sold 32,723 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $29.61, for a total transaction of $968,928.03. Following the transaction, the chief financial officer now directly owns 22,723 shares in the company, valued at $672,828.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AB traded up $0.40 during trading on Tuesday, hitting $29.90. The company had a trading volume of 243,316 shares, compared to its average volume of 186,034. The company has a market cap of $2.79 billion, a P/E ratio of 11.20, a PEG ratio of 2.30 and a beta of 1.21. The stock has a 50-day moving average of $29.80. AllianceBernstein Holding LP has a 1-year low of $23.34 and a 1-year high of $31.42.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). The company had revenue of $714.00 million during the quarter, compared to analyst estimates of $778.88 million. AllianceBernstein had a net margin of 6.79% and a return on equity of 15.54%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. On average, equities research analysts predict that AllianceBernstein Holding LP will post 2.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, August 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.49. This represents a $2.24 annualized dividend and a yield of 7.49%. AllianceBernstein’s dividend payout ratio is currently 73.41%.

A number of research analysts have recently commented on AB shares. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Goldman Sachs Group began coverage on shares of Taylor Wimpey in a research report on Wednesday, June 12th. They set a “buy” rating on the stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meridian Wealth Management LLC raised its holdings in shares of AllianceBernstein by 4.7% during the first quarter. Meridian Wealth Management LLC now owns 7,915 shares of the asset manager’s stock worth $229,000 after purchasing an additional 355 shares during the period. Blue Fin Capital Inc. raised its holdings in shares of AllianceBernstein by 1.0% during the second quarter. Blue Fin Capital Inc. now owns 36,680 shares of the asset manager’s stock worth $1,090,000 after purchasing an additional 356 shares during the period. MML Investors Services LLC raised its holdings in shares of AllianceBernstein by 4.9% during the fourth quarter. MML Investors Services LLC now owns 7,888 shares of the asset manager’s stock worth $216,000 after purchasing an additional 367 shares during the period. Cetera Advisor Networks LLC raised its holdings in shares of AllianceBernstein by 2.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 17,839 shares of the asset manager’s stock worth $486,000 after purchasing an additional 380 shares during the period. Finally, Fiduciary Group LLC raised its holdings in shares of AllianceBernstein by 4.8% during the first quarter. Fiduciary Group LLC now owns 10,193 shares of the asset manager’s stock worth $294,000 after purchasing an additional 465 shares during the period. 16.72% of the stock is currently owned by hedge funds and other institutional investors.

About AllianceBernstein

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

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Insider Buying and Selling by Quarter for AllianceBernstein (NYSE:AB)

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