AllianceBernstein Holding LP (NYSE:AB) – Jefferies Financial Group decreased their Q4 2018 earnings per share estimates for AllianceBernstein in a report released on Wednesday, January 9th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $0.65 for the quarter, down from their previous estimate of $0.66. Jefferies Financial Group also issued estimates for AllianceBernstein’s Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.72 EPS, FY2019 earnings at $2.43 EPS and FY2020 earnings at $2.60 EPS.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, October 24th. The asset manager reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. AllianceBernstein had a net margin of 7.52% and a return on equity of 18.08%. The company had revenue of $850.20 million during the quarter, compared to analyst estimates of $701.40 million. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.

Separately, Zacks Investment Research cut shares of AllianceBernstein from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd.

Shares of AB opened at $28.16 on Friday. AllianceBernstein has a one year low of $23.34 and a one year high of $31.24. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.80 and a beta of 1.21.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in AllianceBernstein by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 882,708 shares of the asset manager’s stock valued at $26,879,000 after acquiring an additional 91,244 shares in the last quarter. FMR LLC raised its position in AllianceBernstein by 0.8% during the second quarter. FMR LLC now owns 739,729 shares of the asset manager’s stock valued at $21,119,000 after acquiring an additional 5,715 shares in the last quarter. First Republic Investment Management Inc. raised its position in AllianceBernstein by 22.3% during the third quarter. First Republic Investment Management Inc. now owns 273,305 shares of the asset manager’s stock valued at $8,322,000 after acquiring an additional 49,816 shares in the last quarter. Sadoff Investment Management LLC raised its position in AllianceBernstein by 1.3% during the third quarter. Sadoff Investment Management LLC now owns 242,675 shares of the asset manager’s stock valued at $7,389,000 after acquiring an additional 3,150 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in AllianceBernstein by 8.7% during the second quarter. California Public Employees Retirement System now owns 209,488 shares of the asset manager’s stock valued at $5,981,000 after acquiring an additional 16,760 shares in the last quarter. 19.37% of the stock is owned by institutional investors and hedge funds.

In other news, insider Axa Equitable Holdings, Inc. bought 254,675 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was bought at an average cost of $24.95 per share, for a total transaction of $6,354,141.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.

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