AllianceBernstein Holding L.P. (AB) COO James A. Gingrich Sells 10,500 Shares
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $24.32, for a total value of $255,360.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
AllianceBernstein Holding L.P. (AB) traded up 0.61% during mid-day trading on Wednesday, reaching $24.65. The company’s stock had a trading volume of 184,342 shares. The stock has a 50-day moving average price of $23.79 and a 200-day moving average price of $23.16. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 11.32 and a beta of 1.51.
AllianceBernstein Holding L.P. (NYSE:AB) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The business had revenue of $802.31 million during the quarter, compared to analyst estimates of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Equities research analysts forecast that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.
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A number of analysts recently commented on the company. Zacks Investment Research cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $26.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baker Ellis Asset Management LLC purchased a new position in shares of AllianceBernstein Holding L.P. during the 2nd quarter valued at about $118,000. WFG Advisors LP raised its stake in shares of AllianceBernstein Holding L.P. by 24.2% during the 2nd quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock valued at $149,000 after buying an additional 1,228 shares during the last quarter. Snow Capital Management LP purchased a new position in shares of AllianceBernstein Holding L.P. during the 1st quarter valued at about $200,000. National Planning Corp raised its stake in shares of AllianceBernstein Holding L.P. by 16.1% during the 2nd quarter. National Planning Corp now owns 10,841 shares of the asset manager’s stock valued at $258,000 after buying an additional 1,500 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of AllianceBernstein Holding L.P. by 18.0% during the 1st 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 last quarter. Institutional investors and hedge funds own 19.40% of the company’s stock.
About AllianceBernstein Holding L.P.
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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