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%.
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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.
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