AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were 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 owns 55,659 shares in the company, valued at $1,390,361.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AllianceBernstein Holding L.P. (NYSE AB) traded up 0.59% on Thursday, hitting $25.40. The stock had a trading volume of 75,743 shares. The stock has a market capitalization of $2.37 billion, a P/E ratio of 11.67 and a beta of 1.51. The firm has a 50-day moving average price of $24.03 and a 200-day moving average price of $23.28. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Equities analysts expect that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current fiscal year.
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AB has been the subject of a number of recent analyst reports. BidaskClub raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Four equities research 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. The company has a consensus rating of “Buy” and an average price target of $26.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AB. Baker Ellis Asset Management LLC purchased a new position in AllianceBernstein Holding L.P. during the 2nd quarter valued at approximately $118,000. WFG Advisors LP grew its holdings in AllianceBernstein Holding L.P. by 24.2% during the 2nd quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock valued at $149,000 after buying an additional 1,228 shares in the last quarter. National Planning Corp grew its holdings in AllianceBernstein Holding L.P. by 16.1% during the 2nd quarter. National Planning Corp now owns 10,841 shares of the asset manager’s stock valued at $258,000 after buying an additional 1,500 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in AllianceBernstein Holding L.P. by 18.0% during the 1st quarter. Neuberger Berman Group LLC now owns 13,100 shares of the asset manager’s stock valued at $299,000 after buying an additional 2,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in AllianceBernstein Holding L.P. by 399.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock valued at $354,000 after buying an additional 11,980 shares in the last quarter. Institutional investors and hedge funds own 19.40% of the company’s stock.
About AllianceBernstein Holding L.P.
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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