Insider Selling: AllianceBernstein Holding L.P. (AB) COO Sells 3,500 Shares of Stock
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $24.70, for a total value of $86,450.00. Following the transaction, the chief operating officer now owns 62,659 shares of the company’s stock, valued at approximately $1,547,677.30. The transaction was disclosed in a document filed with the SEC, which is available through this link.
AllianceBernstein Holding L.P. (AB) traded up 0.20% during midday trading on Friday, hitting $24.75. The stock had a trading volume of 127,210 shares. The firm has a 50-day moving average of $23.85 and a 200-day moving average of $23.18. The company has a market cap of $2.31 billion, a PE ratio of 11.37 and a beta of 1.51. AllianceBernstein Holding L.P. has a 12-month low of $20.40 and a 12-month high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $802.31 million during the quarter, compared to analyst estimates of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The business’s 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. Equities research analysts forecast that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.
Several equities analysts have weighed in on AB shares. Credit Suisse Group AG restated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Zacks Investment Research cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 29th. Finally, BidaskClub upgraded AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.50.
Hedge funds have recently bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of AllianceBernstein Holding L.P. in the second quarter valued at approximately $118,000. WFG Advisors LP grew 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 purchasing an additional 1,228 shares in the last quarter. Snow Capital Management LP purchased a new stake in shares of AllianceBernstein Holding L.P. in the first quarter valued at approximately $200,000. National Planning Corp grew 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 purchasing an additional 1,500 shares in the last quarter. Finally, Neuberger Berman Group LLC grew 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 purchasing an additional 2,000 shares in 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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