AllianceBernstein Holding L.P. (NYSE:AB) – Analysts at Jefferies Group dropped their FY2016 earnings estimates for shares of AllianceBernstein Holding L.P. in a report issued on Tuesday. Jefferies Group analyst S. Thind now expects that the brokerage will post earnings per share of $1.74 for the year, down from their previous forecast of $1.77.

Several other brokerages also recently weighed in on AB. Keefe, Bruyette & Woods restated a “market perform” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, October 14th. Zacks Investment Research upgraded AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a research note on Monday, October 10th. Bank of America Corporation downgraded AllianceBernstein Holding L.P. from a “buy” rating to an “underperform” rating and boosted their target price for the stock from $22.00 to $25.00 in a research note on Friday, December 16th. Finally, Citigroup Inc. downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. AllianceBernstein Holding L.P. currently has a consensus rating of “Hold” and an average price target of $26.15.

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Shares of AllianceBernstein Holding L.P. (NYSE:AB) opened at 23.70 on Thursday. The company’s 50-day moving average price is $23.25 and its 200 day moving average price is $22.68. AllianceBernstein Holding L.P. has a 52 week low of $16.11 and a 52 week high of $25.00. The company has a market cap of $2.25 billion, a P/E ratio of 11.73 and a beta of 1.51.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Wednesday, October 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $767.60 million for the quarter, compared to the consensus estimate of $695.26 million. AllianceBernstein Holding L.P. had a return on equity of 23.92% and a net margin of 13.27%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS.

ILLEGAL ACTIVITY NOTICE: “FY2016 EPS Estimates for AllianceBernstein Holding L.P. Lowered by Analyst (AB)” was originally reported by Daily Political and is the propert of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this piece can be viewed at http://www.dailypolitical.com/2017/01/14/fy2016-eps-estimates-for-alliancebernstein-holding-l-p-lowered-by-analyst-ab.html.

A number of hedge funds have recently bought and sold shares of AB. Meritage Portfolio Management increased its stake in AllianceBernstein Holding L.P. by 34.6% in the third quarter. Meritage Portfolio Management now owns 179,770 shares of the company’s stock valued at $4,099,000 after buying an additional 46,240 shares during the last quarter. ING Groep NV increased its stake in AllianceBernstein Holding L.P. by 22.2% in the second quarter. ING Groep NV now owns 110,000 shares of the company’s stock valued at $2,563,000 after buying an additional 20,000 shares during the last quarter. Sadoff Investment Management LLC increased its stake in AllianceBernstein Holding L.P. by 2.4% in the third quarter. Sadoff Investment Management LLC now owns 236,800 shares of the company’s stock valued at $5,399,000 after buying an additional 5,450 shares during the last quarter. Sei Investments Co. increased its stake in AllianceBernstein Holding L.P. by 21.8% in the third quarter. Sei Investments Co. now owns 200,403 shares of the company’s stock valued at $4,569,000 after buying an additional 35,900 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in AllianceBernstein Holding L.P. by 11.2% in the second quarter. Ameriprise Financial Inc. now owns 30,230 shares of the company’s stock valued at $704,000 after buying an additional 3,040 shares during the last quarter. Institutional investors and hedge funds own 25.12% of the company’s stock.

About AllianceBernstein Holding L.P.

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.

5 Day Chart for NYSE:AB

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