AllianceBernstein Holding L.P. (AB) CFO Sells $46,500.00 in Stock
AllianceBernstein Holding L.P. (NYSE:AB) CFO John C. Weisenseel sold 2,000 shares of AllianceBernstein Holding L.P. stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $23.25, for a total value of $46,500.00. Following the sale, the chief financial officer now directly owns 44,869 shares of the company’s stock, valued at approximately $1,043,204.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of AllianceBernstein Holding L.P. (NYSE:AB) opened at 23.35 on Monday. The stock has a market cap of $2.18 billion, a P/E ratio of 10.73 and a beta of 1.56. The firm’s 50-day moving average price is $24.23 and its 200-day moving average price is $23.06. AllianceBernstein Holding L.P. has a 52-week low of $20.40 and a 52-week high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last released its earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. Equities analysts predict that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 7th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This is a positive change from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 8.39%. AllianceBernstein Holding L.P.’s payout ratio is presently 89.91%.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, July 13th. BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. ValuEngine lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Sidoti assumed coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They set a “buy” rating and a $28.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $26.25.
Institutional investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new position in AllianceBernstein Holding L.P. during the second quarter worth $118,000. TCI Wealth Advisors Inc. raised its position in AllianceBernstein Holding L.P. by 28.8% in the first quarter. TCI Wealth Advisors Inc. now owns 5,556 shares of the asset manager’s stock worth $127,000 after buying an additional 1,244 shares during the last quarter. WFG Advisors LP raised its position in 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 worth $149,000 after buying an additional 1,228 shares during the last quarter. Snow Capital Management LP acquired a new position in AllianceBernstein Holding L.P. during the first quarter worth $200,000. Finally, Wade G W & Inc. acquired a new position in AllianceBernstein Holding L.P. during the first quarter worth $203,000. Hedge funds and other institutional investors own 19.41% 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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