AllianceBernstein Holding LP (NYSE:AB) COO James A. Gingrich Sells 13,209 Shares

AllianceBernstein Holding LP (NYSE:AB) COO James A. Gingrich sold 13,209 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $34.86, for a total value of $460,465.74. Following the sale, the chief operating officer now directly owns 510,872 shares of the company’s stock, valued at $17,808,997.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of AB stock traded up $0.91 during trading on Tuesday, hitting $35.33. The company’s stock had a trading volume of 73,353 shares, compared to its average volume of 272,575. The company has a market cap of $3.30 billion, a PE ratio of 14.19, a P/E/G ratio of 1.63 and a beta of 1.15. The business has a fifty day moving average of $32.89 and a 200-day moving average of $29.90. AllianceBernstein Holding LP has a 52 week low of $26.29 and a 52 week high of $35.43.

AllianceBernstein (NYSE:AB) last released its earnings results on Wednesday, February 12th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.15. The company had revenue of $987.30 million during the quarter, compared to analyst estimates of $937.41 million. AllianceBernstein had a return on equity of 16.40% and a net margin of 6.78%. AllianceBernstein’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts expect that AllianceBernstein Holding LP will post 2.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Monday, February 24th will be issued a $0.85 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.63. This represents a $3.40 annualized dividend and a dividend yield of 9.62%. AllianceBernstein’s dividend payout ratio is currently 100.00%.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in shares of AllianceBernstein by 66.9% in the fourth quarter. Bank of Montreal Can now owns 1,067,379 shares of the asset manager’s stock valued at $32,299,000 after acquiring an additional 428,000 shares in the last quarter. FMR LLC grew its holdings in shares of AllianceBernstein by 34.0% in the fourth quarter. FMR LLC now owns 1,027,238 shares of the asset manager’s stock valued at $31,084,000 after acquiring an additional 260,509 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of AllianceBernstein by 538.8% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 818,916 shares of the asset manager’s stock valued at $24,781,000 after acquiring an additional 690,726 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of AllianceBernstein by 13.3% in the fourth quarter. Foundry Partners LLC now owns 750,585 shares of the asset manager’s stock valued at $22,713,000 after acquiring an additional 88,113 shares in the last quarter. Finally, Barclays PLC lifted its stake in AllianceBernstein by 613.6% in the fourth quarter. Barclays PLC now owns 499,858 shares of the asset manager’s stock valued at $15,126,000 after purchasing an additional 429,808 shares during the last quarter. 19.12% of the stock is owned by institutional investors.

A number of analysts have commented on the company. Citigroup boosted their price objective on AllianceBernstein from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Cfra upped their target price on AllianceBernstein from $32.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a report on Monday, December 23rd.

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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