AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 21,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $24.45, for a total transaction of $513,450.00. Following the sale, the chief operating officer now owns 209,659 shares in the company, valued at approximately $5,126,162.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AllianceBernstein Holding L.P. (NYSE AB) traded down 1.21% during midday trading on Wednesday, reaching $24.40. 214,314 shares of the company traded hands. The firm’s 50 day moving average price is $24.12 and its 200 day moving average price is $23.01. AllianceBernstein Holding L.P. has a 12 month low of $20.40 and a 12 month high of $26.15. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 11.21 and a beta of 1.56.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The business had revenue of $802.31 million for the quarter, compared to analyst estimates of $771.88 million. During the same period in the previous year, the business earned $0.39 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. On average, analysts expect that AllianceBernstein Holding L.P. will post $2.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 7th will be given a $0.49 dividend. The ex-dividend date is Thursday, August 3rd. This is a positive change from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 8.03%. AllianceBernstein Holding L.P.’s payout ratio is 89.91%.

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Several research firms recently weighed in on AB. Zacks Investment Research upgraded shares of AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Sidoti began coverage on shares of 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. Finally, Keefe, Bruyette & Woods upgraded shares of AllianceBernstein Holding L.P. from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research note on Wednesday, April 12th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. AllianceBernstein Holding L.P. currently has a consensus rating of “Buy” and a consensus price target of $26.50.

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in AllianceBernstein Holding L.P. by 6.8% in the first quarter. Creative Planning now owns 18,162 shares of the asset manager’s stock worth $415,000 after buying an additional 1,160 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in AllianceBernstein Holding L.P. by 6.8% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 65,948 shares of the asset manager’s stock worth $1,507,000 after buying an additional 4,175 shares during the period. Advocacy Wealth Management Services LLC raised its position 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 worth $102,000 after buying an additional 1,000 shares during the period. Sigma Planning Corp raised its position in AllianceBernstein Holding L.P. by 4.9% in the first quarter. Sigma Planning Corp now owns 16,180 shares of the asset manager’s stock worth $370,000 after buying an additional 752 shares during the period. Finally, Duncker Streett & Co. Inc. raised its position in AllianceBernstein Holding L.P. by 5.5% in the first quarter. Duncker Streett & Co. Inc. now owns 19,165 shares of the asset manager’s stock worth $438,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 23.61% of the company’s stock.

About AllianceBernstein Holding L.P.

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)

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