AllianceBernstein Holding L.P. (NYSE:AB) CFO John C. Weisenseel sold 6,000 shares of AllianceBernstein Holding L.P. stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $23.15, for a total transaction of $138,900.00. Following the transaction, the chief financial officer now directly owns 38,869 shares of the company’s stock, valued at $899,817.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AllianceBernstein Holding L.P. (NYSE AB) opened at 23.60 on Friday. The firm’s 50-day moving average is $24.11 and its 200 day moving average is $23.06. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.84 and a beta of 1.53. AllianceBernstein Holding L.P. has a 1-year low of $20.40 and a 1-year high of $26.15.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The business had revenue of $802.31 million during the quarter, compared to the consensus estimate of $771.88 million. During the same period last year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts anticipate that AllianceBernstein Holding L.P. will post $2.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Monday, August 7th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.31%. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is 89.91%.

TRADEMARK VIOLATION WARNING: “Insider Selling: AllianceBernstein Holding L.P. (AB) CFO Sells $138,900.00 in Stock” was published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.watchlistnews.com/insider-selling-alliancebernstein-holding-l-p-ab-cfo-sells-138900-00-in-stock/1537926.html.

Hedge funds have recently modified their holdings of the company. Schroder Investment Management Group increased its stake 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 buying an additional 3,689 shares during the period. Stifel Financial Corp increased its stake in shares of AllianceBernstein Holding L.P. by 1.2% in the first quarter. Stifel Financial Corp now owns 237,007 shares of the asset manager’s stock worth $5,418,000 after buying an additional 2,756 shares during the period. Symons Capital Management Inc. bought a new stake in shares of AllianceBernstein Holding L.P. during the first quarter worth about $447,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 5,025 shares during the period. Finally, M&T Bank Corp increased its stake 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 buying an additional 9,461 shares during the period. 19.41% of the stock is owned by institutional investors and hedge funds.

AB has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. BidaskClub raised shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Sidoti initiated 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 for the company. ValuEngine lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, August 24th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.25.

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.

Insider Buying and Selling by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

Receive News & Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.