Equities Analysts Set Expectations for AllianceBernstein Holding LP’s FY2016 Earnings (AB)
AllianceBernstein Holding LP (NYSE:AB) – Investment analysts at Jefferies Group lowered their FY2016 earnings per share estimates for shares of AllianceBernstein Holding in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind now expects that the brokerage will post earnings of $1.74 per share for the year, down from their prior forecast of $1.77. Jefferies Group currently has a “Hold” rating and a $22.00 price target on the stock. Jefferies Group also issued estimates for AllianceBernstein Holding’s Q4 2016 earnings at $0.53 EPS and FY2017 earnings at $2.05 EPS.
Several other research firms have also recently issued reports on AB. Zacks Investment Research upgraded shares of AllianceBernstein Holding from a “sell” rating to a “hold” rating in a research note on Monday. Citigroup Inc. decreased their price target on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. AllianceBernstein Holding presently has a consensus rating of “Hold” and an average price target of $25.26.
AllianceBernstein Holding (NYSE:AB) opened at 22.15 on Wednesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 11.51 and a beta of 1.31. AllianceBernstein Holding has a one year low of $16.11 and a one year high of $27.70. The stock’s 50 day moving average is $22.28 and its 200-day moving average is $22.93.
AllianceBernstein Holding (NYSE:AB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $725.80 million for the quarter, compared to analyst estimates of $701.98 million. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. AllianceBernstein Holding’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS.
In related news, Director Weston M. Hicks sold 4,539 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total transaction of $97,588.50. Following the transaction, the director now owns 26,469 shares of the company’s stock, valued at approximately $569,083.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of AllianceBernstein Holding by 12.6% in the third quarter. Creative Planning now owns 15,769 shares of the company’s stock worth $360,000 after buying an additional 1,761 shares during the period. Sadoff Investment Management LLC raised its stake in shares of AllianceBernstein Holding by 2.4% in the third quarter. Sadoff Investment Management LLC now owns 236,800 shares of the company’s stock worth $5,399,000 after buying an additional 5,450 shares during the period. New England Research & Management Inc. raised its stake in shares of AllianceBernstein Holding by 10.4% in the third quarter. New England Research & Management Inc. now owns 62,088 shares of the company’s stock worth $1,416,000 after buying an additional 5,850 shares during the period. Royal Bank of Canada raised its stake in shares of AllianceBernstein Holding by 4.5% in the second quarter. Royal Bank of Canada now owns 51,923 shares of the company’s stock worth $1,210,000 after buying an additional 2,234 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of AllianceBernstein Holding by 18.6% in the second quarter. IFP Advisors Inc now owns 14,845 shares of the company’s stock worth $346,000 after buying an additional 2,323 shares during the period. 26.31% of the stock is currently owned by institutional investors and hedge funds.
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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