AllianceBernstein Holding L.P. (AB) CFO Sells $46,000.00 in Stock
AllianceBernstein Holding L.P. (NYSE:AB) CFO John C. Weisenseel sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $23.00, for a total value of $46,000.00. Following the completion of the transaction, the chief financial officer now directly owns 38,869 shares in the company, valued at approximately $893,987. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
AllianceBernstein Holding L.P. (AB) traded up 0.64% on Friday, reaching $23.60. The company’s stock had a trading volume of 174,158 shares. The company’s 50 day moving average price is $24.11 and its 200-day moving average price is $23.06. The stock has a market cap of $2.21 billion, a PE ratio of 10.84 and a beta of 1.53. AllianceBernstein Holding L.P. has a 12-month low of $20.40 and a 12-month high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last posted its 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. The business had revenue of $802.31 million during the quarter, compared to analyst estimates of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, equities analysts expect that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Monday, August 7th were issued a $0.49 dividend. This is a positive change from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.31%. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is presently 89.91%.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/alliancebernstein-holding-l-p-ab-cfo-sells-46000-00-in-stock/1538123.html.
AB has been the topic of several research analyst reports. Zacks Investment Research cut AllianceBernstein Holding L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Sidoti initiated coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They issued 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 report on Saturday, June 24th. ValuEngine cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.25.
Hedge funds have recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new stake in AllianceBernstein Holding L.P. during the second quarter worth approximately $118,000. TCI Wealth Advisors Inc. raised 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 worth $127,000 after buying an additional 1,244 shares during the last quarter. WFG Advisors LP raised 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 worth $149,000 after buying an additional 1,228 shares during the last quarter. Snow Capital Management LP acquired a new stake in AllianceBernstein Holding L.P. during the first quarter worth approximately $200,000. Finally, Wade G W & Inc. acquired a new stake in AllianceBernstein Holding L.P. during the first quarter worth approximately $203,000. 19.41% of the stock is owned by institutional investors and hedge funds.
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.
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 Analyst Ratings Network's FREE daily email newsletter.