AllianceBernstein Holding L.P. (AB) COO Sells $86,450.00 in Stock
AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $24.70, for a total value of $86,450.00. Following the completion of the sale, the chief operating officer now owns 55,659 shares of the company’s stock, valued at $1,374,777.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
AllianceBernstein Holding L.P. (NYSE AB) traded up 1.61% on Wednesday, hitting $25.25. The company’s stock had a trading volume of 198,299 shares. The company has a 50 day moving average price of $24.03 and a 200-day moving average price of $23.28. The company has a market capitalization of $2.36 billion, a P/E ratio of 11.60 and a beta of 1.51. AllianceBernstein Holding L.P. has a 1-year low of $20.40 and a 1-year high of $26.15.
AllianceBernstein Holding L.P. (NYSE:AB) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The firm had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. During the same period last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post $2.07 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Zacks Investment Research cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Four investment 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 has a consensus rating of “Buy” and an average price target of $26.75.
Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in AllianceBernstein Holding L.P. by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 44,807 shares of the asset manager’s stock valued at $1,023,000 after acquiring an additional 5,025 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of AllianceBernstein Holding L.P. by 437.1% during the second quarter. GSA Capital Partners LLP now owns 67,200 shares of the asset manager’s stock worth $1,589,000 after purchasing an additional 54,688 shares in the last quarter. American Century Companies Inc. boosted its position in shares of AllianceBernstein Holding L.P. by 6.0% during the second quarter. American Century Companies Inc. now owns 2,518,953 shares of the asset manager’s stock worth $59,573,000 after purchasing an additional 141,736 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of AllianceBernstein Holding L.P. during the first quarter worth $1,136,000. Finally, Meiji Yasuda Life Insurance Co bought a new position in shares of AllianceBernstein Holding L.P. during the second quarter worth $37,556,000. 19.40% of the stock is currently owned by hedge funds and other institutional investors.
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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