Jefferies Group Comments on AllianceBernstein Holding L.P.’s Q3 2017 Earnings (AB)
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.
TRADEMARK VIOLATION NOTICE: “Jefferies Group Comments on AllianceBernstein Holding L.P.’s Q3 2017 Earnings (AB)” was published by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/11/jefferies-group-comments-on-alliancebernstein-holding-l-p-s-q3-2017-earnings-ab.html.
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.
Receive News & Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related companies with MarketBeat.com's FREE daily email newsletter.