AllianceBernstein Holding LP (AB) Lifted to “Hold” at Zacks Investment Research
AllianceBernstein Holding LP (NYSE:AB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “ALLIANCE CAP MANAGEMENT L.P. provides diversified investment management services, primarily to pension funds, endowments, foreign financial institutions, and to individual investors. “
A number of other analysts have also weighed in on AB. Jefferies Group upped their target price on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the stock a “hold” rating in a report on Monday, July 11th. Citigroup Inc. decreased their target price 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 given a buy rating to the company’s stock. AllianceBernstein Holding has a consensus rating of “Hold” and an average price target of $25.26.
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AllianceBernstein Holding (NYSE:AB) traded down 1.177% on Monday, reaching $22.255. 92,462 shares of the company’s stock traded hands. The company’s 50 day moving average is $22.27 and its 200-day moving average is $22.93. AllianceBernstein Holding has a 52-week low of $16.11 and a 52-week high of $27.70. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 11.567 and a beta of 1.31.
AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.04. AllianceBernstein Holding had a net margin of 16.18% and a return on equity of 29.76%. The business earned $725.80 million during the quarter, compared to the consensus estimate of $701.98 million. During the same period last year, the firm earned $0.48 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts expect that AllianceBernstein Holding will post $1.73 EPS for the current year.
In related news, Director Weston M. Hicks sold 4,539 shares of the company’s 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 completion of the sale, the director now directly owns 26,469 shares in the company, valued at approximately $569,083.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Diligent Investors LLC raised its stake in AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock worth $296,000 after buying an additional 794 shares in the last quarter. ING Groep NV raised its stake in AllianceBernstein Holding by 22.2% in the second quarter. ING Groep NV now owns 110,000 shares of the company’s stock worth $2,563,000 after buying an additional 20,000 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in AllianceBernstein Holding by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 19,131 shares of the company’s stock worth $445,000 after buying an additional 50 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in AllianceBernstein Holding by 3.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 52,299 shares of the company’s stock worth $1,219,000 after buying an additional 1,691 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in AllianceBernstein Holding by 2.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 277,000 shares of the company’s stock worth $6,454,000 after buying an additional 7,200 shares in the last quarter. Institutional investors own 26.31% of the company’s stock.
About AllianceBernstein Holding
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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