Hillsdale Investment Management Inc. purchased a new stake in AllianceBernstein Holding L.P. (NYSE:AB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,500 shares of the asset manager’s stock, valued at approximately $769,000.

Several other institutional investors have also bought and sold shares of AB. First Trust Advisors LP acquired a new position in AllianceBernstein Holding L.P. during the first quarter worth $496,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of AllianceBernstein Holding L.P. by 90.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,417 shares of the asset manager’s stock worth $1,015,000 after acquiring an additional 21,127 shares during the last quarter. M&T Bank Corp raised its holdings in shares of AllianceBernstein Holding L.P. by 51.8% in the first quarter. M&T Bank Corp now owns 27,729 shares of the asset manager’s stock worth $634,000 after acquiring an additional 9,461 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AllianceBernstein Holding L.P. by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 44,807 shares of the asset manager’s stock worth $1,023,000 after acquiring an additional 5,025 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of AllianceBernstein Holding L.P. by 5.3% in the first quarter. Schroder Investment Management Group now owns 73,589 shares of the asset manager’s stock worth $1,656,000 after acquiring an additional 3,689 shares during the last quarter. Hedge funds and other institutional investors own 19.40% of the company’s stock.

AllianceBernstein Holding L.P. (NYSE AB) opened at 24.30 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 11.16 and a beta of 1.52. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The company has a 50-day moving average price of $23.81 and a 200-day moving average price of $23.05.

AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, topping 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 firm had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $771.88 million. During the same quarter in the previous year, the company posted $0.39 EPS. AllianceBernstein Holding L.P.’s revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.

In related news, COO James A. Gingrich sold 3,500 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $24.35, for a total value of $85,225.00. Following the sale, the chief operating officer now directly owns 83,659 shares of the company’s stock, valued at approximately $2,037,096.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James A. Gingrich sold 60,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $24.97, for a total transaction of $1,498,200.00. Following the completion of the sale, the chief operating officer now directly owns 255,581 shares in the company, valued at $6,381,857.57. The disclosure for this sale can be found here. Insiders have sold a total of 578,832 shares of company stock valued at $13,897,519 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Several equities analysts recently commented on the company. ValuEngine lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Sidoti started coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They set a “buy” rating and a $28.00 price target for the company. Zacks Investment Research downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. BidaskClub raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. AllianceBernstein Holding L.P. presently has an average rating of “Buy” and a consensus price target of $26.50.

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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.

Institutional Ownership by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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