AllianceBernstein (NYSE:AB) released its earnings results on Tuesday. The asset manager reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19, Bloomberg Earnings reports. AllianceBernstein had a return on equity of 13.72% and a net margin of 6.38%. The company had revenue of $919.14 million during the quarter, compared to analyst estimates of $839.49 million. During the same quarter in the previous year, the company posted $0.67 EPS. AllianceBernstein’s revenue for the quarter was up 16.9% on a year-over-year basis.
AllianceBernstein (NYSE:AB) opened at $25.40 on Tuesday. AllianceBernstein has a twelve month low of $20.40 and a twelve month high of $28.00. The firm has a market capitalization of $2,321.93, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51.
In related news, insider Axa Equitable Holdings, Inc. purchased 124,983 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $24.95 per share, for a total transaction of $3,118,325.85. The acquisition was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $25.20, for a total value of $252,000.00. Following the completion of the sale, the senior vice president now owns 19,147 shares in the company, valued at approximately $482,504.40. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
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AllianceBernstein 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.
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