AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $24.05, for a total value of $168,350.00. Following the completion of the transaction, the chief operating officer now owns 293,581 shares in the company, valued at approximately $7,060,623.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of AllianceBernstein Holding L.P. (NYSE AB) traded down 0.22% during trading on Friday, reaching $23.10. The company had a trading volume of 256,750 shares. The firm has a market capitalization of $2.16 billion, a P/E ratio of 10.61 and a beta of 1.56. AllianceBernstein Holding L.P. has a 12 month low of $20.40 and a 12 month high of $26.15. The firm’s 50 day moving average price is $24.28 and its 200 day moving average price is $23.06.
AllianceBernstein Holding L.P. (NYSE:AB) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The firm had revenue of $802.31 million for the quarter, compared to analyst estimates of $771.88 million. During the same quarter in the prior year, the company earned $0.39 EPS. AllianceBernstein Holding L.P.’s revenue was up 10.5% on a year-over-year basis. Equities analysts predict that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Monday, August 7th will be paid a $0.49 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a yield of 8.48%. This is a positive change from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s dividend payout ratio is presently 89.91%.
WARNING: This piece was reported by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/insider-selling-alliancebernstein-holding-l-p-ab-coo-sells-168350-00-in-stock-updated-updated-updated.html.
A number of large investors have recently bought and sold shares of AB. Envestnet Asset Management Inc. bought a new stake in AllianceBernstein Holding L.P. during the fourth quarter worth about $447,000. New England Research & Management Inc. raised its position in shares of AllianceBernstein Holding L.P. by 9.4% in the first quarter. New England Research & Management Inc. now owns 76,128 shares of the asset manager’s stock worth $1,740,000 after buying an additional 6,540 shares in the last quarter. Creative Planning raised its position in shares of AllianceBernstein Holding L.P. by 6.8% in the first quarter. Creative Planning now owns 18,162 shares of the asset manager’s stock worth $415,000 after buying an additional 1,160 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of AllianceBernstein Holding L.P. by 6.8% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 65,948 shares of the asset manager’s stock worth $1,507,000 after buying an additional 4,175 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in shares of AllianceBernstein Holding L.P. by 29.0% in the first quarter. Advocacy Wealth Management Services LLC now owns 4,450 shares of the asset manager’s stock worth $102,000 after buying an additional 1,000 shares in the last quarter. 23.67% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday. Credit Suisse Group restated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. BidaskClub upgraded AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Sidoti assumed coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, ValuEngine downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. AllianceBernstein Holding L.P. has a consensus rating of “Buy” and a consensus target price of $26.50.
About AllianceBernstein Holding L.P.
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.