AllianceBernstein Holding L.P. (NYSE:AB) – Jefferies Group raised their Q3 2017 earnings per share estimates for AllianceBernstein Holding L.P. in a report issued on Tuesday. Jefferies Group analyst S. Thind now anticipates that the asset manager will earn $0.52 per share for the quarter, up from their previous forecast of $0.51. Jefferies Group also issued estimates for AllianceBernstein Holding L.P.’s FY2017 earnings at $2.12 EPS and FY2019 earnings at $2.45 EPS.

A number of other analysts have also weighed in on AB. BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.75.

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AllianceBernstein Holding L.P. (NYSE AB) opened at 24.85 on Wednesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 11.41 and a beta of 1.51. AllianceBernstein Holding L.P. has a 52 week low of $20.40 and a 52 week high of $26.15. The stock has a 50 day moving average price of $23.99 and a 200-day moving average price of $23.27.

AllianceBernstein Holding L.P. (NYSE:AB) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $802.31 million for the quarter, compared to the consensus estimate of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS.

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings 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 worth $1,023,000 after buying an additional 5,025 shares during the period. GSA Capital Partners LLP lifted its holdings in AllianceBernstein Holding L.P. by 437.1% in the second quarter. GSA Capital Partners LLP now owns 67,200 shares of the asset manager’s stock worth $1,589,000 after buying an additional 54,688 shares during the period. American Century Companies Inc. lifted its holdings in AllianceBernstein Holding L.P. by 6.0% in the second quarter. American Century Companies Inc. now owns 2,518,953 shares of the asset manager’s stock worth $59,573,000 after buying an additional 141,736 shares during the period. HighTower Advisors LLC purchased a new stake in AllianceBernstein Holding L.P. in the first quarter worth about $1,136,000. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in AllianceBernstein Holding L.P. in the second quarter worth about $37,556,000. Institutional investors and hedge funds own 19.40% of the company’s stock.

In related news, insider Axa America Holdings, Inc. acquired 1,071,180 shares of the stock in a transaction on Friday, September 1st. The stock was acquired at an average cost of $22.90 per share, for a total transaction of $24,530,022.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John C. Weisenseel sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $23.25, for a total transaction of $46,500.00. Following the completion of the sale, the chief financial officer now owns 44,869 shares of the company’s stock, valued at $1,043,204.25. The disclosure for this sale can be found here. Insiders sold 550,832 shares of company stock valued at $13,247,429 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

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.

Earnings History and Estimates for AllianceBernstein Holding L.P. (NYSE:AB)

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