AllianceBernstein Holding LP (AB) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of AllianceBernstein Holding LP (NYSE:AB) have received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.00.
AB has been the subject of several research analyst reports. Zacks Investment Research lowered AllianceBernstein from a “buy” rating to a “hold” rating in a report on Monday, December 18th. ValuEngine raised AllianceBernstein from a “hold” rating to a “buy” rating in a report on Friday, December 1st.
In related news, insider Axa Equitable Holdings, Inc. bought 124,983 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $24.95 per share, with a total value of $3,118,325.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward J. Farrell sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $25.20, for a total value of $252,000.00. Following the transaction, the senior vice president now directly owns 19,147 shares of the company’s stock, valued at $482,504.40. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
Shares of AllianceBernstein (NYSE AB) opened at $27.20 on Tuesday. The firm has a market capitalization of $2,546.64, a PE ratio of 12.83, a P/E/G ratio of 1.33 and a beta of 1.59. AllianceBernstein has a fifty-two week low of $20.40 and a fifty-two week high of $27.80.
AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $812.15 million during the quarter, compared to the consensus estimate of $786.74 million. AllianceBernstein had a net margin of 6.38% and a return on equity of 13.72%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. sell-side analysts anticipate that AllianceBernstein will post 2.13 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “AllianceBernstein Holding LP (AB) Receives Consensus Recommendation of “Buy” from Brokerages” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/16/alliancebernstein-holding-lp-ab-receives-consensus-recommendation-of-buy-from-brokerages.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.