AllianceBernstein Holding LP (NYSE:AB) – Equities researchers at Jefferies Group reduced their FY2016 earnings estimates for shares of AllianceBernstein Holding in a research report issued on Tuesday. Jefferies Group analyst S. Thind now expects 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.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded AllianceBernstein Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Citigroup Inc. reduced their price objective on AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.26.
Shares of AllianceBernstein Holding (NYSE:AB) opened at 22.15 on Wednesday. AllianceBernstein Holding has a 1-year low of $16.11 and a 1-year high of $27.70. The firm has a market cap of $2.14 billion, a PE ratio of 11.51 and a beta of 1.31. The company has a 50-day moving average of $22.28 and a 200-day moving average of $22.93.
AllianceBernstein Holding (NYSE:AB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.04. AllianceBernstein Holding had a net margin of 16.18% and a return on equity of 29.76%. The company earned $725.80 million during the quarter, compared to analyst estimates of $701.98 million. During the same period in the prior year, the business posted $0.48 EPS. AllianceBernstein Holding’s revenue was down 8.4% compared to the same quarter last year.
In other AllianceBernstein Holding news, Director Weston M. Hicks sold 4,539 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $21.50, for a total value of $97,588.50. Following the completion of the transaction, the director now owns 26,469 shares in the company, valued at $569,083.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diligent Investors LLC boosted its position in shares of AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock worth $296,000 after buying an additional 794 shares in the last quarter. ING Groep NV boosted 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 in the last quarter. Duncker Streett & Co. Inc. boosted its position in shares of AllianceBernstein Holding by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 19,131 shares of the company’s stock worth $445,000 after buying an additional 50 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in shares of AllianceBernstein Holding by 3.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 52,299 shares of the company’s stock worth $1,219,000 after buying an additional 1,691 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its position in shares of 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 worth $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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