Jefferies Group Brokers Boost Earnings Estimates for AllianceBernstein Holding L.P. (AB)

AllianceBernstein Holding L.P. (NYSE:AB) – Stock analysts at Jefferies Group raised their Q3 2017 earnings per share estimates for AllianceBernstein Holding L.P. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind now anticipates that the asset manager will post earnings per share of $0.52 for the quarter, up from their previous estimate of $0.51. Jefferies Group also issued estimates for AllianceBernstein Holding L.P.’s FY2017 earnings at $2.12 EPS and FY2019 earnings at $2.45 EPS.

AB has been the subject of a number of other research reports. BidaskClub raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of AllianceBernstein Holding L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. AllianceBernstein Holding L.P. currently has an average rating of “Buy” and a consensus price target of $26.75.

TRADEMARK VIOLATION WARNING: “Jefferies Group Brokers Boost Earnings Estimates for AllianceBernstein Holding L.P. (AB)” was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/2957021/jefferies-group-brokers-boost-earnings-estimates-for-alliancebernstein-holding-l-p-ab.html. AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $771.88 million. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS.

A number of hedge funds and other institutional investors have recently modified their holdings of AB. First Trust Advisors LP bought a new position in AllianceBernstein Holding L.P. in the 1st quarter valued at approximately $496,000. JPMorgan Chase & Co. raised its holdings in AllianceBernstein Holding L.P. by 12.6% in the 1st quarter. JPMorgan Chase & Co. now owns 44,807 shares of the asset manager’s stock valued at $1,023,000 after buying an additional 5,025 shares during the last quarter. Schroder Investment Management Group raised its holdings in AllianceBernstein Holding L.P. by 5.3% in the 1st quarter. Schroder Investment Management Group now owns 73,589 shares of the asset manager’s stock valued at $1,656,000 after buying an additional 3,689 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in AllianceBernstein Holding L.P. by 18.0% in the 1st quarter. Neuberger Berman Group LLC now owns 13,100 shares of the asset manager’s stock valued at $299,000 after buying an additional 2,000 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in AllianceBernstein Holding L.P. by 1.5% in the 1st quarter. California Public Employees Retirement System now owns 174,000 shares of the asset manager’s stock valued at $3,976,000 after buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 19.40% of the company’s stock.

In related news, COO James A. Gingrich sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $24.70, for a total value of $86,450.00. Following the completion of the transaction, the chief operating officer now owns 55,659 shares in the company, valued at approximately $1,374,777.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James A. Gingrich sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $24.98, for a total transaction of $249,800.00. Following the completion of the transaction, the chief operating officer now owns 55,659 shares of the company’s stock, valued at approximately $1,390,361.82. The disclosure for this sale can be found here. Insiders sold 559,832 shares of company stock valued at $13,490,534 in the last three months. Company insiders own 2.70% of the company’s stock.

AllianceBernstein Holding L.P. Company Profile

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.

Earnings History and Estimates for AllianceBernstein Holding L.P. (NYSE:AB)

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