AllianceBernstein Holding L.P. (NYSE:AB) COO Sells $168,350.00 in Stock

AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 7,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $24.05, for a total transaction of $168,350.00. Following the transaction, the chief operating officer now owns 293,581 shares of the company’s stock, valued at approximately $7,060,623.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AllianceBernstein Holding L.P. (NYSE:AB) traded down 0.21% during midday trading on Friday, reaching $23.75. 253,416 shares of the company’s stock traded hands. The stock has a market cap of $2.22 billion, a PE ratio of 10.91 and a beta of 1.56. The stock’s 50 day moving average price is $24.26 and its 200-day moving average price is $23.05. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15.

AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that AllianceBernstein Holding L.P. will post $2.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Monday, August 7th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 8.25%. AllianceBernstein Holding L.P.’s payout ratio is currently 89.91%.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position 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 buying an additional 541 shares in the last quarter. Symons Capital Management Inc. boosted its position 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 buying an additional 565 shares in the last quarter. Blue Fin Capital Inc. boosted its position 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 buying an additional 600 shares in the last quarter. Sigma Planning Corp boosted its position 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 buying an additional 647 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in AllianceBernstein Holding L.P. by 2.9% in the first quarter. Pinnacle Associates Ltd. now owns 33,600 shares of the asset manager’s stock worth $768,000 after buying an additional 950 shares in the last quarter. 23.61% of the stock is currently owned by institutional investors.

AB has been the subject of several research reports. Zacks Investment Research upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, April 25th. Sidoti initiated coverage on shares of AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They set a “buy” rating and a $28.00 price target for the company. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Credit Suisse Group restated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.50.

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.

Insider Buying and Selling by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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