AllianceBernstein Holding L.P. (NYSE:AB) CFO John C. Weisenseel sold 6,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.40, for a total value of $140,400.00. Following the completion of the transaction, the chief financial officer now directly owns 26,869 shares of the company’s stock, valued at approximately $628,734.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of AllianceBernstein Holding L.P. (NYSE AB) traded up 1.26% during midday trading on Friday, reaching $24.20. The company’s stock had a trading volume of 311,634 shares. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 11.12 and a beta of 1.52. The stock’s 50 day moving average price is $23.81 and its 200 day moving average price is $23.04.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $802.31 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Analysts predict that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Monday, August 7th were issued a dividend of $0.49 per share. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend was Thursday, August 3rd. AllianceBernstein Holding L.P.’s payout ratio is currently 89.91%.
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A number of equities analysts recently commented on AB shares. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Sidoti started coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They set a “buy” rating and a $28.00 price target for the company. Finally, ValuEngine lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. AllianceBernstein Holding L.P. presently has a consensus rating of “Buy” and a consensus target price of $26.50.
Several institutional investors have recently modified their holdings of AB. Meiji Yasuda Life Insurance Co acquired a new position in shares of AllianceBernstein Holding L.P. during the 2nd quarter worth approximately $37,556,000. Morgan Stanley boosted its holdings in shares of AllianceBernstein Holding L.P. by 166.0% during the 1st quarter. Morgan Stanley now owns 1,258,872 shares of the asset manager’s stock worth $28,765,000 after purchasing an additional 785,538 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of AllianceBernstein Holding L.P. by 9,523.4% during the 2nd quarter. Bank of Montreal Can now owns 444,600 shares of the asset manager’s stock worth $10,514,000 after purchasing an additional 439,980 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of AllianceBernstein Holding L.P. by 25.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,474,636 shares of the asset manager’s stock worth $34,874,000 after purchasing an additional 299,008 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of AllianceBernstein Holding L.P. during the 2nd quarter worth approximately $6,970,000. Institutional investors and hedge funds 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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