AllianceBernstein Holding LP (NYSE:AB) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for AllianceBernstein in a research report issued on Wednesday. Jefferies Group analyst S. Thind now anticipates that the asset manager will post earnings per share of $2.15 for the year, up from their prior estimate of $2.14. Jefferies Group also issued estimates for AllianceBernstein’s Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.45 EPS and FY2019 earnings at $2.68 EPS.
Separately, Zacks Investment Research raised AllianceBernstein from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $28.00.
AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $812.15 million for the quarter, compared to analyst estimates of $786.74 million. AllianceBernstein had a return on equity of 13.72% and a net margin of 6.38%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of AllianceBernstein by 2.3% in the 2nd quarter. FMR LLC now owns 680,041 shares of the asset manager’s stock valued at $16,083,000 after purchasing an additional 15,041 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of AllianceBernstein by 437.1% in the 2nd quarter. GSA Capital Partners LLP now owns 67,200 shares of the asset manager’s stock valued at $1,589,000 after acquiring an additional 54,688 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of AllianceBernstein by 25.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,608 shares of the asset manager’s stock valued at $1,570,000 after acquiring an additional 12,961 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AllianceBernstein by 399.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock valued at $354,000 after acquiring an additional 11,980 shares during the last quarter. Finally, Commonwealth Equity Services Inc increased its holdings in shares of AllianceBernstein by 17.7% in the 3rd quarter. Commonwealth Equity Services Inc now owns 62,232 shares of the asset manager’s stock valued at $1,512,000 after acquiring an additional 9,375 shares during the last quarter. 20.77% of the stock is currently owned by institutional investors.
In other AllianceBernstein news, COO James A. Gingrich sold 5,659 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $25.00, for a total value of $141,475.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Brugge Robert P. Van sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $24.82, for a total value of $248,200.00. Following the completion of the transaction, the chairman now directly owns 101,609 shares in the company, valued at $2,521,935.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,659 shares of company stock worth $1,391,975. 2.70% of the stock is currently owned by corporate insiders.
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AllianceBernstein 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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