AllianceBernstein Holding’s (AB) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods
AllianceBernstein Holding LP (NYSE:AB)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a research note issued on Friday, StockTargetPrices.com reports.
A number of other research firms have also recently commented on AB. Zacks Investment Research upgraded AllianceBernstein Holding from a “sell” rating to a “hold” rating in a research report on Monday, October 10th. Jefferies Group lifted their price objective on AllianceBernstein Holding from $21.50 to $22.00 and gave the stock a “hold” rating in a research report on Monday, July 11th. Finally, Citigroup Inc. dropped their price objective on AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, July 29th. One investment 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. The company has a consensus rating of “Hold” and a consensus target price of $25.76.
Shares of AllianceBernstein Holding (NYSE:AB) opened at 21.95 on Friday. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $27.70. The stock’s 50 day moving average is $22.28 and its 200 day moving average is $22.91. The firm has a market cap of $2.12 billion, a PE ratio of 11.41 and a beta of 1.31.
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AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $701.98 million. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. On average, analysts anticipate that AllianceBernstein Holding will post $1.73 earnings per share for the current fiscal year.
In other AllianceBernstein Holding news, Director Weston M. Hicks sold 4,539 shares of AllianceBernstein Holding stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $21.50, for a total value of $97,588.50. Following the completion of the sale, the director now 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 can be accessed through this link. 3.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in AllianceBernstein Holding during the second quarter valued at approximately $112,000. Boston Private Wealth LLC boosted its stake in AllianceBernstein Holding by 3.2% in the second quarter. Boston Private Wealth LLC now owns 10,197 shares of the company’s stock valued at $238,000 after buying an additional 320 shares during the period. Diligent Investors LLC boosted 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 valued at $296,000 after buying an additional 794 shares during the period. Bridgecreek Investment Management LLC acquired a new stake in AllianceBernstein Holding during the second quarter valued at approximately $306,000. Finally, Investors Capital Advisory Services boosted its stake in AllianceBernstein Holding by 18.3% in the second quarter. Investors Capital Advisory Services now owns 13,835 shares of the company’s stock valued at $322,000 after buying an additional 2,142 shares during the period. Institutional investors own 26.32% 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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