AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 21,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $23.62, for a total value of $496,020.00. Following the sale, the chief operating officer now directly owns 314,581 shares in the company, valued at approximately $7,430,403.22. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of AllianceBernstein Holding L.P. (NYSE AB) opened at 24.00 on Monday. The company’s 50-day moving average price is $22.43 and its 200-day moving average price is $22.81. The stock has a market cap of $2.32 billion, a PE ratio of 11.21 and a beta of 1.55. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $25.12.
AllianceBernstein Holding L.P. (NYSE:AB) last released its earnings results on Thursday, April 27th. The asset manager reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $764.92 million for the quarter, compared to the consensus estimate of $746.52 million. AllianceBernstein Holding L.P. had a return on equity of 18.31% and a net margin of 9.74%. AllianceBernstein Holding L.P.’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Equities research analysts anticipate that AllianceBernstein Holding L.P. will post $2.00 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP bought a new position in AllianceBernstein Holding L.P. during the fourth quarter valued at $117,000. Advocacy Wealth Management Services LLC increased its position in shares of AllianceBernstein Holding L.P. by 29.0% in the first quarter. Advocacy Wealth Management Services LLC now owns 4,450 shares of the asset manager’s stock valued at $102,000 after buying an additional 1,000 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of AllianceBernstein Holding L.P. by 28.8% in the first quarter. TCI Wealth Advisors Inc. now owns 5,556 shares of the asset manager’s stock valued at $127,000 after buying an additional 1,244 shares during the last quarter. Snow Capital Management LP acquired a new position in shares of AllianceBernstein Holding L.P. during the first quarter valued at approximately $200,000. Finally, Wade G W & Inc. acquired a new position in shares of AllianceBernstein Holding L.P. during the first quarter valued at approximately $203,000. Institutional investors own 22.46% of the company’s stock.
AB has been the topic of a number of recent research reports. Bank of America Corporation raised AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $25.00 in a report on Wednesday, April 12th. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, April 25th. Keefe, Bruyette & Woods raised AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 12th. Sidoti initiated coverage on AllianceBernstein Holding L.P. in a report on Monday, June 5th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, ValuEngine cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. AllianceBernstein Holding L.P. presently has an average rating of “Buy” and a consensus price target of $25.50.
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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