Schroder Investment Management Group Has $263,000 Stake in AllianceBernstein Holding LP (AB)
Schroder Investment Management Group decreased its position in AllianceBernstein Holding LP (NYSE:AB) by 85.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,789 shares of the asset manager’s stock after selling 62,800 shares during the period. Schroder Investment Management Group’s holdings in AllianceBernstein were worth $263,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. WFG Advisors LP boosted its position in shares of AllianceBernstein by 24.2% during the 2nd quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock worth $149,000 after purchasing an additional 1,228 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of AllianceBernstein by 399.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock worth $354,000 after purchasing an additional 11,980 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of AllianceBernstein during the 2nd quarter worth approximately $424,000. Symons Capital Management Inc. boosted its position in shares of AllianceBernstein by 2.9% during the 2nd quarter. Symons Capital Management Inc. now owns 20,105 shares of the asset manager’s stock worth $476,000 after purchasing an additional 565 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of AllianceBernstein by 25.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 20,293 shares of the asset manager’s stock worth $480,000 after purchasing an additional 4,086 shares during the period. 20.77% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine upgraded shares of AllianceBernstein from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Citigroup upgraded shares of AllianceBernstein from a “neutral” rating to a “buy” rating and increased their target price for the stock from $26.00 to $31.00 in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.80.
AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). AllianceBernstein had a net margin of 6.38% and a return on equity of 13.72%. The firm had revenue of $812.15 million during the quarter, compared to analyst estimates of $786.74 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. AllianceBernstein’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts forecast that AllianceBernstein Holding LP will post 2.1 EPS for the current year.
In other AllianceBernstein news, COO James A. Gingrich sold 10,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $24.18, for a total transaction of $253,890.00. Following the transaction, the chief operating officer now directly owns 94,159 shares of the company’s stock, valued at approximately $2,276,764.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Axa Equitable Holdings, Inc. acquired 124,983 shares of the stock in a transaction on Friday, December 15th. The shares were acquired at an average cost of $24.95 per share, for a total transaction of $3,118,325.85. The disclosure for this purchase can be found here. Insiders have sold a total of 152,159 shares of company stock worth $3,763,640 over the last quarter. 2.70% of the stock is owned by company insiders.
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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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