AllianceBernstein Holding L.P. (AB) COO Sells $85,225.00 in Stock
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $24.35, for a total transaction of $85,225.00. Following the completion of the transaction, the chief operating officer now directly owns 83,659 shares in the company, valued at $2,037,096.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of AllianceBernstein Holding L.P. (NYSE:AB) opened at 24.30 on Monday. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15. The firm has a 50 day moving average price of $23.81 and a 200-day moving average price of $23.05. The firm has a market capitalization of $2.27 billion, a P/E ratio of 11.16 and a beta of 1.51.
AllianceBernstein Holding L.P. (NYSE:AB) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS 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 prior year, the business earned $0.39 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that AllianceBernstein Holding L.P. will post $2.07 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the business. Baker Ellis Asset Management LLC purchased a new position in AllianceBernstein Holding L.P. during the second quarter worth $118,000. WFG Advisors LP raised its holdings in shares of 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 acquiring an additional 1,228 shares during the last quarter. Snow Capital Management LP acquired a new position in shares of AllianceBernstein Holding L.P. in the first quarter worth $200,000. National Planning Corp raised its holdings in shares of AllianceBernstein Holding L.P. by 16.1% in the second quarter. National Planning Corp now owns 10,841 shares of the asset manager’s stock worth $258,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of AllianceBernstein Holding L.P. by 18.0% in the first quarter. Neuberger Berman Group LLC now owns 13,100 shares of the asset manager’s stock worth $299,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 19.40% of the company’s stock.
Several analysts recently issued reports on AB shares. Zacks Investment Research cut shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report 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. The company presently has an average rating of “Buy” and an average target price of $26.50.
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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