AllianceBernstein Holding L.P. (AB) Rating Reiterated by Credit Suisse Group
AllianceBernstein Holding L.P. (NYSE:AB)‘s stock had its “neutral” rating reiterated by analysts at Credit Suisse Group in a research note issued to investors on Friday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, April 25th. Sidoti started coverage on shares of AllianceBernstein Holding L.P. in a report on Monday, June 5th. They issued a “buy” rating and a $28.00 price objective on the stock. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.50.
Shares of AllianceBernstein Holding L.P. (AB) opened at 23.75 on Friday. The stock’s 50 day moving average price is $24.26 and its 200-day moving average price is $23.05. AllianceBernstein Holding L.P. has a 12-month low of $20.40 and a 12-month high of $26.15. The company has a market cap of $2.22 billion, a PE ratio of 10.91 and a beta of 1.56.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, equities research analysts forecast that AllianceBernstein Holding L.P. will post $2.06 earnings per share for the current year.
In other AllianceBernstein Holding L.P. news, COO James A. Gingrich sold 10,500 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $22.73, for a total value of $238,665.00. Following the sale, the chief operating officer now directly owns 386,331 shares in the company, valued at $8,781,303.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James A. Gingrich sold 21,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $24.45, for a total transaction of $513,450.00. Following the completion of the sale, the chief operating officer now owns 209,659 shares in the company, valued at $5,126,162.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 505,477 shares of company stock worth $11,929,415. Company insiders own 3.40% of the company’s stock.
A number of large investors have recently bought and sold shares of AB. Advocacy Wealth Management Services LLC increased its stake in shares of 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 in the last quarter. Baker Ellis Asset Management LLC bought a new stake in shares of AllianceBernstein Holding L.P. during the second quarter valued at about $118,000. TCI Wealth Advisors Inc. increased its stake in shares of 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 in the last quarter. Snow Capital Management LP bought a new stake in shares of AllianceBernstein Holding L.P. during the first quarter valued at about $200,000. Finally, Wade G W & Inc. bought a new stake in shares of AllianceBernstein Holding L.P. during the first quarter valued at about $203,000. Institutional investors own 23.61% 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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