Philadelphia Financial Management of San Francisco LLC boosted its stake in shares of AllianceBernstein Holding LP (NYSE:AB) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,554 shares of the asset manager’s stock after acquiring an additional 124,030 shares during the period. Philadelphia Financial Management of San Francisco LLC owned 0.44% of AllianceBernstein worth $10,259,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of AllianceBernstein in the 4th quarter valued at $200,000. Baker Ellis Asset Management LLC increased its stake in shares of AllianceBernstein by 38.5% in the 4th quarter. Baker Ellis Asset Management LLC now owns 9,000 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 2,500 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in shares of AllianceBernstein in the 4th quarter valued at $227,000. QS Investors LLC bought a new position in shares of AllianceBernstein in the 4th quarter valued at $231,000. Finally, Koch Industries Inc. bought a new position in shares of AllianceBernstein in the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 22.89% of the company’s stock.
In other news, General Counsel Laurence E. Cranch sold 37,500 shares of AllianceBernstein stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $26.32, for a total value of $987,000.00. Following the completion of the transaction, the general counsel now directly owns 150,707 shares of the company’s stock, valued at approximately $3,966,608.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Axa Equitable Holdings, Inc. acquired 124,983 shares of the stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $24.95 per share, with a total value of $3,118,325.85. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.
AllianceBernstein Holding LP (NYSE AB) traded down $0.10 during midday trading on Wednesday, hitting $26.65. The company had a trading volume of 13,107 shares, compared to its average volume of 321,405. AllianceBernstein Holding LP has a 12 month low of $20.40 and a 12 month high of $28.15. The firm has a market cap of $2,580.00, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44.
AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. AllianceBernstein had a return on equity of 14.72% and a net margin of 6.30%. The company had revenue of $919.14 million for the quarter, compared to the consensus estimate of $839.49 million. During the same quarter last year, the business posted $0.67 EPS. AllianceBernstein’s revenue for the quarter was up 16.9% on a year-over-year basis. equities analysts expect that AllianceBernstein Holding LP will post 2.52 EPS for the current fiscal year.
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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