AllianceBernstein Holding L.P. (AB) Chairman Brugge Robert P. Van Sells 10,000 Shares
AllianceBernstein Holding L.P. (NYSE:AB) Chairman Brugge Robert P. Van sold 10,000 shares of the firm’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 owns 101,609 shares of the company’s stock, valued at $2,521,935.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AllianceBernstein Holding L.P. (NYSE AB) traded up $0.25 during trading hours on Monday, reaching $25.05. The company had a trading volume of 154,200 shares, compared to its average volume of 337,372. The firm has a market cap of $2,320.00, a PE ratio of 11.76, a P/E/G ratio of 1.59 and a beta of 1.60. AllianceBernstein Holding L.P. has a 1-year low of $20.40 and a 1-year high of $26.65.
AllianceBernstein Holding L.P. (NYSE:AB) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $812.15 million for the quarter, compared to analyst estimates of $786.74 million. AllianceBernstein Holding L.P. had a return on equity of 13.72% and a net margin of 6.38%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. equities analysts forecast that AllianceBernstein Holding L.P. will post 2.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be issued a dividend of $0.51 per share. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 8.14%. The ex-dividend date is Friday, November 3rd. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is presently 96.68%.
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AB has been the subject of a number of recent analyst reports. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, August 24th. Citigroup Inc. raised AllianceBernstein Holding L.P. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $31.00 in a research report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. AllianceBernstein Holding L.P. presently has an average rating of “Buy” and a consensus price target of $27.60.
A number of large investors have recently added to or reduced their stakes in AB. American Century Companies Inc. raised its holdings in AllianceBernstein Holding L.P. by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 2,518,953 shares of the asset manager’s stock valued at $59,573,000 after acquiring an additional 141,736 shares in the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in AllianceBernstein Holding L.P. in the 2nd quarter valued at $37,556,000. Franklin Resources Inc. raised its holdings in AllianceBernstein Holding L.P. by 25.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,474,636 shares of the asset manager’s stock valued at $34,874,000 after acquiring an additional 299,008 shares in the last quarter. FMR LLC raised its holdings in AllianceBernstein Holding L.P. 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 acquiring an additional 15,041 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in AllianceBernstein Holding L.P. by 787.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,134 shares of the asset manager’s stock valued at $11,107,000 after acquiring an additional 404,727 shares in the last quarter. 19.25% 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.
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