AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) insider Christopher Hogbin sold 12,781 shares of AllianceBernstein stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $34.87, for a total value of $445,673.47. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $348,700. The sale was disclosed in a document filed with the SEC, which is available at this link.
AllianceBernstein Price Performance
Shares of AB traded up $0.55 during mid-day trading on Wednesday, reaching $35.29. The company had a trading volume of 376,670 shares, compared to its average volume of 307,853. AllianceBernstein Holding L.P. has a twelve month low of $25.83 and a twelve month high of $35.50. The company’s 50-day moving average is $33.71 and its 200-day moving average is $33.58. The company has a market capitalization of $4.06 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.74 and a beta of 1.24.
AllianceBernstein (NYSE:AB – Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $807.42 million. AllianceBernstein had a return on equity of 15.90% and a net margin of 7.68%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. As a group, equities analysts expect that AllianceBernstein Holding L.P. will post 2.96 EPS for the current fiscal year.
AllianceBernstein Cuts Dividend
Hedge Funds Weigh In On AllianceBernstein
Institutional investors have recently bought and sold shares of the business. Stifel Financial Corp grew its position in shares of AllianceBernstein by 28.8% in the fourth quarter. Stifel Financial Corp now owns 189,724 shares of the asset manager’s stock valued at $5,887,000 after purchasing an additional 42,451 shares during the last quarter. Jump Financial LLC boosted its stake in shares of AllianceBernstein by 87.4% in the fourth quarter. Jump Financial LLC now owns 74,400 shares of the asset manager’s stock valued at $2,309,000 after buying an additional 34,699 shares during the period. Nomura Holdings Inc. boosted its stake in shares of AllianceBernstein by 61.7% in the fourth quarter. Nomura Holdings Inc. now owns 230,600 shares of the asset manager’s stock valued at $7,156,000 after buying an additional 88,000 shares during the period. General American Investors Co. Inc. bought a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $4,192,000. Finally, Epoch Investment Partners Inc. boosted its stake in shares of AllianceBernstein by 59.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 129,272 shares of the asset manager’s stock valued at $4,011,000 after buying an additional 48,122 shares during the period. Institutional investors and hedge funds own 19.25% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AB. TD Cowen lifted their target price on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America decreased their target price on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.19.
Check Out Our Latest Analysis on AllianceBernstein
AllianceBernstein Company Profile
AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.
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