Zacks Investment Research upgraded shares of AllianceBernstein Holding LP (NYSE:AB) from a sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “ALLIANCE CAP MANAGEMENT L.P. provides diversified investment management services, primarily to pension funds, endowments, foreign financial institutions, and to individual investors. “
AB has been the topic of several other reports. Citigroup Inc. decreased their target price on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a buy rating on the stock in a report on Friday, July 29th. Jefferies Group raised their target price on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the company a hold rating in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. AllianceBernstein Holding presently has an average rating of Hold and a consensus target price of $25.26.
AllianceBernstein Holding (NYSE:AB) opened at 22.15 on Monday. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.51 and a beta of 1.31. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $27.70. The stock’s 50 day moving average is $22.28 and its 200-day moving average is $22.93.
AllianceBernstein Holding (NYSE:AB) last released 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. AllianceBernstein Holding had a net margin of 16.18% and a return on equity of 29.76%. The firm earned $725.80 million during the quarter, compared to the consensus estimate of $701.98 million. During the same period in the prior year, the business earned $0.48 earnings per share. AllianceBernstein Holding’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts anticipate that AllianceBernstein Holding will post $1.73 earnings per share for the current fiscal year.
In other news, Director Weston M. Hicks sold 4,539 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total value of $97,588.50. Following the sale, the director now directly owns 26,469 shares in the company, valued at approximately $569,083.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. Diligent Investors LLC increased its stake in AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock valued at $296,000 after buying an additional 794 shares in the last quarter. ING Groep NV increased its stake in AllianceBernstein Holding by 22.2% in the second quarter. ING Groep NV now owns 110,000 shares of the company’s stock valued at $2,563,000 after buying an additional 20,000 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in AllianceBernstein Holding by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 19,131 shares of the company’s stock valued at $445,000 after buying an additional 50 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in AllianceBernstein Holding by 3.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 52,299 shares of the company’s stock valued at $1,219,000 after buying an additional 1,691 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in AllianceBernstein Holding by 2.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 277,000 shares of the company’s stock valued at $6,454,000 after buying an additional 7,200 shares in the last quarter. Institutional investors and hedge funds own 26.31% of the company’s stock.
AllianceBernstein Holding Company Profile
AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services.