AllianceBernstein Holding L.P. (AB) COO Sells $254,835.00 in Stock
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 10,500 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $24.27, for a total transaction of $254,835.00. Following the sale, the chief operating officer now owns 104,659 shares in the company, valued at $2,540,073.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of AllianceBernstein Holding L.P. (NYSE AB) opened at 24.50 on Friday. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The company has a market capitalization of $2.29 billion, a P/E ratio of 11.25 and a beta of 1.52. The firm has a 50-day moving average of $23.81 and a 200-day moving average of $23.05.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The business had revenue of $802.31 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. Analysts forecast that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current year.
AB has been the topic of a number of research reports. Zacks Investment Research downgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Sidoti initiated coverage on shares of AllianceBernstein Holding L.P. in a report on Monday, June 5th. They issued a “buy” rating and a $28.00 price target on the stock. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, ValuEngine downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.50.
Several hedge funds and other institutional investors have recently modified their holdings of AB. Baker Ellis Asset Management LLC acquired a new stake in shares of AllianceBernstein Holding L.P. in the second quarter valued at about $118,000. WFG Advisors LP raised its position in shares of AllianceBernstein Holding L.P. by 24.2% in the second quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock valued at $149,000 after buying an additional 1,228 shares during the last quarter. Snow Capital Management LP acquired a new stake in shares of AllianceBernstein Holding L.P. in the first quarter valued at about $200,000. National Planning Corp raised its position in shares of AllianceBernstein Holding L.P. by 16.1% in the second quarter. National Planning Corp now owns 10,841 shares of the asset manager’s stock valued at $258,000 after buying an additional 1,500 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of AllianceBernstein Holding L.P. by 18.0% in the first quarter. Neuberger Berman Group LLC now owns 13,100 shares of the asset manager’s stock valued at $299,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 19.40% of the company’s stock.
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.
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