AllianceBernstein Holding L.P. (NYSE:AB) issued its earnings results on Wednesday, October 25th. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01), Bloomberg Earnings reports. AllianceBernstein Holding L.P. had a return on equity of 13.72% and a net margin of 6.38%. The company had revenue of $812.15 million during the quarter, compared to analyst estimates of $786.74 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year.
AllianceBernstein Holding L.P. (NYSE:AB) traded up $0.25 during mid-day trading on Friday, reaching $25.05. The company’s stock had a trading volume of 154,200 shares, compared to its average volume of 337,372. The company has a market cap of $2,321.93, a PE ratio of 11.64, a PEG ratio of 1.57 and a beta of 1.60. AllianceBernstein Holding L.P. has a 52-week low of $20.40 and a 52-week high of $26.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend is Friday, November 3rd. This is an increase from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.49. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is presently 96.23%.
A number of analysts have weighed in on AB shares. BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. Finally, Zacks Investment Research cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. AllianceBernstein Holding L.P. presently has an average rating of “Buy” and an average price target of $27.60.
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In other AllianceBernstein Holding L.P. news, CFO John C. Weisenseel sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $23.99, for a total transaction of $191,920.00. Following the completion of the sale, the chief financial officer now directly owns 64,869 shares in the company, valued at $1,556,207.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John C. Weisenseel sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $23.25, for a total transaction of $46,500.00. Following the sale, the chief financial officer now owns 44,869 shares of the company’s stock, valued at $1,043,204.25. The disclosure for this sale can be found here. Insiders sold a total of 396,070 shares of company stock valued at $9,467,892 in the last 90 days. 2.70% of the stock is owned by corporate insiders.
About AllianceBernstein Holding L.P.
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.
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