AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $23.35, for a total transaction of $163,450.00. Following the completion of the sale, the chief operating officer now owns 157,159 shares of the company’s stock, valued at $3,669,662.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AllianceBernstein Holding L.P. (NYSE:AB) opened at 23.45 on Friday. The firm has a market capitalization of $2.19 billion, a PE ratio of 10.77 and a beta of 1.56. The firm’s 50-day moving average is $24.14 and its 200-day moving average is $23.06. AllianceBernstein Holding L.P. has a 12 month low of $20.40 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $802.31 million for the quarter, compared to the consensus estimate of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, equities research analysts expect that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Monday, August 7th were issued a $0.49 dividend. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.36%. AllianceBernstein Holding L.P.’s dividend payout ratio is currently 89.91%.

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Several institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of AllianceBernstein Holding L.P. by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,207 shares of the asset manager’s stock worth $370,000 after buying an additional 541 shares in the last quarter. Symons Capital Management Inc. increased its position in shares of AllianceBernstein Holding L.P. by 2.9% in the second quarter. Symons Capital Management Inc. now owns 20,105 shares of the asset manager’s stock worth $476,000 after buying an additional 565 shares in the last quarter. Blue Fin Capital Inc. increased its position in shares of AllianceBernstein Holding L.P. by 2.3% in the second quarter. Blue Fin Capital Inc. now owns 26,383 shares of the asset manager’s stock worth $623,000 after buying an additional 600 shares in the last quarter. Sigma Planning Corp increased its position in shares of AllianceBernstein Holding L.P. by 4.0% in the second quarter. Sigma Planning Corp now owns 16,827 shares of the asset manager’s stock worth $398,000 after buying an additional 647 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of AllianceBernstein Holding L.P. by 2.9% in the first quarter. Pinnacle Associates Ltd. now owns 33,600 shares of the asset manager’s stock worth $768,000 after buying an additional 950 shares in the last quarter. Institutional investors own 19.41% of the company’s stock.

A number of research firms recently issued reports on AB. Zacks Investment Research upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, July 13th. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Credit Suisse Group restated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. ValuEngine downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Sidoti began coverage on shares of AllianceBernstein Holding L.P. in a report on Monday, June 5th. They issued a “buy” rating and a $28.00 target price for the company. Four 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 company. The stock presently has a consensus rating of “Buy” and an average 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)

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