AllianceBernstein Holding L.P. (AB) CFO John C. Weisenseel Sells 6,000 Shares
AllianceBernstein Holding L.P. (NYSE:AB) CFO John C. Weisenseel sold 6,000 shares of the firm’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 sale, the chief financial officer now directly owns 26,869 shares in the company, valued at $628,734.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of AllianceBernstein Holding L.P. (NYSE AB) traded up 0.21% during midday trading on Friday, hitting $23.40. The company had a trading volume of 156,147 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 $2.19 billion, a price-to-earnings ratio of 10.75 and a beta of 1.52. The company’s 50 day moving average is $23.99 and its 200 day moving average is $23.04.
AllianceBernstein Holding L.P. (NYSE:AB) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The firm had revenue of $802.31 million during the quarter, compared to the consensus estimate of $771.88 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts forecast that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 7th were paid a dividend of $0.49 per share. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.96 annualized dividend and a yield of 8.39%. AllianceBernstein Holding L.P.’s dividend payout ratio is presently 89.91%.
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A number of large investors have recently made changes to their positions in AB. Meiji Yasuda Life Insurance Co bought a new stake in AllianceBernstein Holding L.P. during the 2nd quarter valued at approximately $37,556,000. Morgan Stanley boosted its stake in 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 valued at $28,765,000 after purchasing an additional 785,538 shares during the period. Bank of Montreal Can boosted its stake in 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 valued at $10,514,000 after purchasing an additional 439,980 shares during the period. Franklin Resources Inc. boosted its stake in 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 valued at $34,874,000 after purchasing an additional 299,008 shares during the period. Finally, Foundry Partners LLC bought a new stake in AllianceBernstein Holding L.P. during the 2nd quarter valued at approximately $6,970,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.
Several research firms have recently weighed in on AB. Zacks Investment Research lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. ValuEngine lowered AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Sidoti began coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research note on Friday, August 11th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $26.25.
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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