AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich Sells 27,421 Shares

AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 27,421 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.53, for a total value of $672,637.13. Following the completion of the transaction, the chief operating officer now owns 232,081 shares of the company’s stock, valued at approximately $5,692,946.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of AllianceBernstein Holding L.P. (NYSE AB) traded down 0.22% during mid-day trading on Friday, reaching $23.10. The company’s stock had a trading volume of 256,750 shares. The firm’s 50 day moving average is $24.28 and its 200-day moving average is $23.06. The company has a market capitalization of $2.16 billion, a PE ratio of 10.61 and a beta of 1.56. 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 issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $802.31 million for the quarter, compared to the consensus estimate of $771.88 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts forecast that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 7th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a yield of 8.48%. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s payout ratio is 89.91%.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Rincon Hill News and is the sole property of of Rincon Hill News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://rinconhillneighbors.org/2017/08/19/james-a-gingrich-sells-27421-shares-of-alliancebernstein-holding-l-p-nyseab-stock-updated-updated.html.

A number of research analysts have recently weighed in on AB shares. Zacks Investment Research upgraded 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 started coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They set a “buy” rating and a $28.00 price objective on the stock. BidaskClub raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. ValuEngine lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. AllianceBernstein Holding L.P. has a consensus rating of “Buy” and a consensus price target of $26.50.

Hedge funds have recently added to or reduced their stakes in the company. Advocacy Wealth Management Services LLC increased its stake in 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 period. Baker Ellis Asset Management LLC bought a new stake in AllianceBernstein Holding L.P. during the second quarter valued at about $118,000. TCI Wealth Advisors Inc. increased its stake in 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 period. WFG Advisors LP increased its stake in AllianceBernstein Holding L.P. by 24.2% in the second 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 during the period. Finally, Snow Capital Management LP bought a new stake in AllianceBernstein Holding L.P. during the first quarter valued at about $200,000. Institutional investors own 23.67% of the company’s stock.

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)

Receive News & Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.