AllianceBernstein (NYSE:AB) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

AllianceBernstein (NYSE:AB) announced its quarterly earnings results on Tuesday. The asset manager reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02, FiscalAI reports. AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%.

AllianceBernstein Price Performance

NYSE AB opened at $35.27 on Tuesday. AllianceBernstein has a 1 year low of $33.90 and a 1 year high of $44.11. The stock has a market capitalization of $3.28 billion, a PE ratio of 10.44, a PEG ratio of 1.17 and a beta of 0.79. The business’s 50-day moving average is $35.74 and its 200 day moving average is $37.59.

Insider Buying and Selling

In other AllianceBernstein news, Director Charles Stonehill sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total transaction of $185,850.00. Following the completion of the transaction, the director owned 24,573 shares of the company’s stock, valued at $913,378.41. This represents a 16.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore set a $39.00 price objective on AllianceBernstein in a research note on Friday, July 10th. Weiss Ratings downgraded shares of AllianceBernstein from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. TD Cowen lowered their price target on shares of AllianceBernstein from $38.00 to $36.00 and set a “hold” rating for the company in a report on Monday, October 12th. Barclays dropped their price target on shares of AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Finally, Zacks Research raised shares of AllianceBernstein from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, AllianceBernstein presently has an average rating of “Hold” and an average target price of $37.88.

About AllianceBernstein

AllianceBernstein Holding L.P. (NYSE:AB) is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.