Todays Report: The AllianceBernstein Holding LP (AB) Forecasted to Earn FY2016 Earnings of $1.74 Per Share

The AllianceBernstein Holding LP (AB) Forecasted to Earn FY2016 Earnings of $1.74 Per Share

AllianceBernstein Holding LP (NYSE:AB) – Stock analysts at Jefferies Group dropped their FY2016 earnings per share estimates for shares of AllianceBernstein Holding in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind now forecasts that the brokerage will post earnings per share of $1.74 for the year, down from their previous estimate of $1.77. Jefferies Group currently has a “Hold” rating and a $22.00 target price on the stock. Jefferies Group also issued estimates for AllianceBernstein Holding’s Q4 2016 earnings at $0.53 EPS and FY2017 earnings at $2.05 EPS.

Several other brokerages have also recently commented on AB. Zacks Investment Research cut shares of AllianceBernstein Holding from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Citigroup Inc. decreased their price objective on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.26.

Shares of AllianceBernstein Holding (NYSE:AB) traded up 1.37% during mid-day trading on Wednesday, hitting $22.15. 83,374 shares of the company’s stock traded hands. AllianceBernstein Holding has a 52 week low of $16.11 and a 52 week high of $27.70. The firm has a 50-day moving average of $22.28 and a 200 day moving average of $22.93. The company has a market cap of $2.14 billion, a PE ratio of 11.51 and a beta of 1.31.

AllianceBernstein Holding (NYSE:AB) last issued its earnings results on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by $0.04. The business had revenue of $725.80 million for the quarter, compared to the consensus estimate of $701.98 million. AllianceBernstein Holding had a net margin of 16.18% and a return on equity of 29.76%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS.

In other AllianceBernstein Holding news, Director Weston M. Hicks sold 4,539 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total transaction of $97,588.50. Following the sale, the director now owns 26,469 shares of the company’s stock, valued at $569,083.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in shares of AllianceBernstein Holding during the first quarter worth approximately $6,322,000. Allianz Asset Management AG raised its position in shares of AllianceBernstein Holding by 13.0% in the second quarter. Allianz Asset Management AG now owns 1,415,792 shares of the company’s stock worth $32,988,000 after buying an additional 163,000 shares during the period. Groesbeck Investment Management Corp NJ raised its position in shares of AllianceBernstein Holding by 99.7% in the first quarter. Groesbeck Investment Management Corp NJ now owns 100,150 shares of the company’s stock worth $2,347,000 after buying an additional 50,000 shares during the period. ING Groep NV raised its position in shares of AllianceBernstein Holding by 22.2% in the second quarter. ING Groep NV now owns 110,000 shares of the company’s stock worth $2,563,000 after buying an additional 20,000 shares during the period. Finally, Citigroup Inc. raised its position in shares of AllianceBernstein Holding by 31.5% in the second quarter. Citigroup Inc. now owns 81,776 shares of the company’s stock worth $1,906,000 after buying an additional 19,579 shares during the period. Institutional investors own 26.31% of the company’s stock.

About AllianceBernstein Holding

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