Insider Selling: AllianceBernstein Holding L.P. (AB) COO Sells 5,659 Shares of Stock
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 5,659 shares of AllianceBernstein Holding L.P. stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $25.00, for a total value of $141,475.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
AllianceBernstein Holding L.P. (NYSE AB) remained flat at $25.00 on Tuesday. 150,743 shares of the company traded hands. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15. The firm has a 50 day moving average of $24.15 and a 200 day moving average of $23.34. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 11.48 and a beta of 1.51.
AllianceBernstein Holding L.P. (NYSE:AB) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company had revenue of $802.31 million for the quarter, compared to analyst estimates of $771.88 million. During the same period in the prior year, the business earned $0.39 earnings per share. AllianceBernstein Holding L.P.’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that AllianceBernstein Holding L.P. will post $2.08 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in AB. First Trust Advisors LP acquired a new position in AllianceBernstein Holding L.P. in the first quarter valued at approximately $496,000. JPMorgan Chase & Co. lifted its holdings in AllianceBernstein Holding L.P. by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 44,807 shares of the asset manager’s stock valued at $1,023,000 after buying an additional 5,025 shares during the period. Neuberger Berman Group LLC lifted its holdings in 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 buying an additional 2,000 shares during the period. California Public Employees Retirement System lifted its holdings in AllianceBernstein Holding L.P. by 1.5% in the first quarter. California Public Employees Retirement System now owns 174,000 shares of the asset manager’s stock valued at $3,976,000 after buying an additional 2,600 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in AllianceBernstein Holding L.P. in the first quarter valued at approximately $578,000. Institutional investors and hedge funds own 19.42% of the company’s stock.
AB has been the topic of a number of recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Zacks Investment Research lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Finally, BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. AllianceBernstein Holding L.P. currently has a consensus rating of “Buy” and a consensus price target of $26.75.
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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