Today: The AllianceBernstein Holding LP (AB) Raised to “Hold” at Zacks Investment Research

The AllianceBernstein Holding LP (AB) Raised to “Hold” at Zacks Investment Research

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.

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