Somewhat Favorable Press Coverage Somewhat Unlikely to Impact AllianceBernstein Holding L.P. (AB) Share Price
News coverage about AllianceBernstein Holding L.P. (NYSE:AB) has been trending somewhat positive this week, Accern Sentiment reports. Accern identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. AllianceBernstein Holding L.P. earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave press coverage about the asset manager an impact score of 44.0541116057691 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Peeling the Layers Back on AllianceBernstein Holding LP (NYSE:AB) and Yamana Gold Inc. (TSX:YRI) – Evergreen Caller (evergreencaller.com)
- Credit Suisse Group Reaffirms Neutral Rating for AllianceBernstein Holding L.P. (NYSE:AB) (americanbankingnews.com)
- Aug 09, 2017 – Meiji Yasuda Life Insurance Co Buys … – GuruFocus – GuruFocus.com (gurufocus.com)
- Zacks.com featured highlights: Volkswagen, Hitachi, AllianceBernstein, SK Telecom Co and ePlus (finance.yahoo.com)
Shares of AllianceBernstein Holding L.P. (NYSE:AB) traded down 0.21% during midday trading on Friday, hitting $23.75. The stock had a trading volume of 253,416 shares. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 10.91 and a beta of 1.56. The stock’s 50-day moving average price is $24.26 and its 200 day moving average price is $23.05.
AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $802.31 million during the quarter, compared to analyst estimates of $771.88 million. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post $2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Monday, August 7th will be given a dividend of $0.49 per share. 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 8.25%. The ex-dividend date of this dividend is Thursday, August 3rd. AllianceBernstein Holding L.P.’s dividend payout ratio is currently 89.91%.
AB has been the subject of a number of research analyst reports. Zacks Investment Research upgraded AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, April 25th. Sidoti initiated coverage on AllianceBernstein Holding L.P. in a report on Monday, June 5th. They set a “buy” rating and a $28.00 price target for the company. BidaskClub upgraded AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. ValuEngine cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.50.
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In other news, Director Scott A. Schoen sold 61,985 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $21.20, for a total transaction of $1,314,082.00. Following the completion of the transaction, the director now directly owns 53,112 shares of the company’s stock, valued at approximately $1,125,974.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James A. Gingrich sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $24.97, for a total transaction of $1,498,200.00. Following the transaction, the chief operating officer now directly owns 255,581 shares of the company’s stock, valued at $6,381,857.57. The disclosure for this sale can be found here. Insiders have sold a total of 567,462 shares of company stock valued at $13,243,497 over the last three months. Insiders own 3.40% of the company’s stock.
About AllianceBernstein Holding L.P.
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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