AllianceBernstein Holding’s (AB) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of AllianceBernstein Holding LP (NYSE:AB) in a research report report published on Friday, StockTargetPrices.com reports.
Other research analysts also recently issued research reports about the company. Citigroup Inc. reduced their price objective on AllianceBernstein Holding from $28.00 to $27.00 and set a buy rating on the stock in a report on Friday, July 29th. Zacks Investment Research raised AllianceBernstein Holding from a sell rating to a hold rating in a report on Wednesday, July 13th. Finally, Jefferies Group upped their price objective on AllianceBernstein Holding from $21.50 to $22.00 and gave the stock a hold rating in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $25.76.
Shares of AllianceBernstein Holding (NYSE:AB) opened at 21.80 on Friday. The firm has a market cap of $2.10 billion, a PE ratio of 11.33 and a beta of 1.31. The stock has a 50 day moving average price of $22.27 and a 200 day moving average price of $22.89. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $27.70.
AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.04. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. The firm had revenue of $725.80 million for the quarter, compared to analyst estimates of $701.98 million. During the same period in the prior year, the company posted $0.48 EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts expect that AllianceBernstein Holding will post $1.73 EPS for the current year.
In related news, Director Weston M. Hicks sold 4,539 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total value of $97,588.50. Following the completion of the sale, the director now owns 26,469 shares in the company, valued at approximately $569,083.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in AllianceBernstein Holding during the second quarter worth approximately $112,000. Boston Private Wealth LLC boosted its stake in AllianceBernstein Holding by 3.2% in the second quarter. Boston Private Wealth LLC now owns 10,197 shares of the company’s stock worth $238,000 after buying an additional 320 shares in the last quarter. Diligent Investors LLC boosted its stake in AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock worth $296,000 after buying an additional 794 shares in the last quarter. Bridgecreek Investment Management LLC purchased a new stake in AllianceBernstein Holding during the second quarter worth approximately $306,000. Finally, Investors Capital Advisory Services boosted its stake in AllianceBernstein Holding by 18.3% in the second quarter. Investors Capital Advisory Services now owns 13,835 shares of the company’s stock worth $322,000 after buying an additional 2,142 shares in the last quarter. Institutional investors and hedge funds own 26.32% of the company’s stock.
About AllianceBernstein Holding
AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services.
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