Brokers Set Expectations for AllianceBernstein Holding LP’s Q1 2018 Earnings (AB)

AllianceBernstein Holding LP (NYSE:AB) – Research analysts at Jefferies Group lifted their Q1 2018 earnings per share estimates for shares of AllianceBernstein in a report issued on Thursday. Jefferies Group analyst S. Thind now forecasts that the asset manager will earn $0.59 per share for the quarter, up from their previous estimate of $0.53. Jefferies Group also issued estimates for AllianceBernstein’s Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.61 EPS, FY2018 earnings at $2.52 EPS and FY2019 earnings at $2.72 EPS.

Several other equities research analysts have also recently issued reports on AB. Zacks Investment Research raised shares of AllianceBernstein from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, February 14th. ValuEngine cut shares of AllianceBernstein from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Citigroup raised shares of AllianceBernstein from a “neutral” rating to a “buy” rating and boosted their price target for the company from $26.00 to $31.00 in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.00.

Shares of AllianceBernstein (NYSE AB) opened at $27.35 on Monday. The stock has a market cap of $2,560.00, a price-to-earnings ratio of 11.12, a PEG ratio of 1.23 and a beta of 1.51. AllianceBernstein has a 1 year low of $20.40 and a 1 year high of $28.00.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The business had revenue of $919.14 million during the quarter, compared to analysts’ expectations of $839.49 million. AllianceBernstein had a net margin of 6.30% and a return on equity of 14.72%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS.

In related news, insider Axa Equitable Holdings, Inc. purchased 124,983 shares of AllianceBernstein stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average cost of $24.95 per share, with a total value of $3,118,325.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward J. Farrell sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $25.20, for a total transaction of $252,000.00. Following the completion of the sale, the senior vice president now directly owns 19,147 shares of the company’s stock, valued at $482,504.40. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in AB. JPMorgan Chase & Co. raised its holdings in shares of AllianceBernstein by 787.3% in the third quarter. JPMorgan Chase & Co. now owns 456,134 shares of the asset manager’s stock valued at $11,107,000 after buying an additional 404,727 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of AllianceBernstein by 57.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,100,495 shares of the asset manager’s stock valued at $27,568,000 after buying an additional 402,497 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of AllianceBernstein in the third quarter valued at about $7,290,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of AllianceBernstein by 1,692.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 275,028 shares of the asset manager’s stock valued at $6,889,000 after buying an additional 259,682 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of AllianceBernstein by 71.5% in the fourth quarter. Deutsche Bank AG now owns 433,136 shares of the asset manager’s stock valued at $10,850,000 after buying an additional 180,536 shares during the last quarter. 21.08% of the stock is owned by institutional investors and hedge funds.

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AllianceBernstein 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.

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