James A. Gingrich Sells 7,000 Shares of AllianceBernstein Holding L.P. (AB) Stock

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%.

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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.

Insider Buying and Selling by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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