AllianceBernstein Holding LP (NYSE:AB) Given Consensus Recommendation of “Hold” by Brokerages
AllianceBernstein Holding LP (NYSE:AB) has received an average rating of “Hold” from the nine ratings firms that are presently covering the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.85.
AB has been the topic of several analyst reports. Zacks Investment Research lowered shares of AllianceBernstein Holding from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Jefferies Group increased their price target on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the stock a “hold” rating in a research note on Monday, July 11th. Finally, Citigroup Inc. dropped their price target on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, July 29th.
Shares of AllianceBernstein Holding (NYSE:AB) traded up 0.071% during midday trading on Thursday, hitting $22.536. 58,249 shares of the stock were exchanged. The firm has a market cap of $2.18 billion, a P/E ratio of 11.713 and a beta of 1.31. AllianceBernstein Holding has a 12-month low of $16.11 and a 12-month high of $27.70. The stock’s 50 day moving average is $22.24 and its 200 day moving average is $22.94.
AllianceBernstein Holding (NYSE:AB) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $725.80 million for the quarter, compared to analyst estimates of $701.98 million. During the same quarter last year, the company earned $0.48 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts forecast that AllianceBernstein Holding will post $1.73 earnings per share for the current fiscal year.
In related news, Director Weston M. Hicks sold 4,539 shares of the firm’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 transaction, the director now directly owns 26,469 shares in the company, valued at approximately $569,083.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New England Research & Management Inc. raised its stake in AllianceBernstein Holding by 10.4% in the third quarter. New England Research & Management Inc. now owns 62,088 shares of the company’s stock valued at $1,416,000 after buying an additional 5,850 shares in the last quarter. Royal Bank of Canada raised its stake in AllianceBernstein Holding by 4.5% in the second quarter. Royal Bank of Canada now owns 51,923 shares of the company’s stock valued at $1,210,000 after buying an additional 2,234 shares in the last quarter. IFP Advisors Inc raised its stake in AllianceBernstein Holding by 18.6% in the second quarter. IFP Advisors Inc now owns 14,845 shares of the company’s stock valued at $346,000 after buying an additional 2,323 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in AllianceBernstein Holding during the second quarter valued at about $112,000. Finally, Stifel Financial Corp raised its stake in AllianceBernstein Holding by 0.4% in the second quarter. Stifel Financial Corp now owns 229,359 shares of the company’s stock valued at $5,343,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 26.31% of the company’s stock.
AllianceBernstein Holding Company Profile
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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