AllianceBernstein Holding LP (NYSE:AB) – Research analysts at Jefferies Financial Group issued their Q1 2019 earnings per share estimates for shares of AllianceBernstein in a report issued on Wednesday, October 10th. Jefferies Financial Group analyst D. Fannon forecasts that the asset manager will post earnings per share of $0.62 for the quarter. Jefferies Financial Group also issued estimates for AllianceBernstein’s Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.66 EPS and Q4 2019 earnings at $0.81 EPS.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of AllianceBernstein from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, June 20th. Citigroup raised their target price on shares of AllianceBernstein from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, July 30th.
Shares of NYSE AB opened at $29.20 on Thursday. The stock has a market capitalization of $2.98 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.65 and a beta of 1.29. AllianceBernstein has a 1 year low of $24.00 and a 1 year high of $31.24.
AllianceBernstein (NYSE:AB) last issued its earnings results on Thursday, July 26th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $719.69 million for the quarter, compared to analyst estimates of $690.90 million. AllianceBernstein had a net margin of 6.94% and a return on equity of 17.02%. During the same quarter last year, the firm earned $0.43 EPS.
Institutional investors have recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC bought a new position in AllianceBernstein during the 2nd quarter worth approximately $484,000. Centaurus Financial Inc. bought a new position in AllianceBernstein during the 2nd quarter worth approximately $129,000. Moody Aldrich Partners LLC bought a new position in AllianceBernstein during the 2nd quarter worth approximately $157,054,000. Greenwich Investment Management Inc. bought a new position in AllianceBernstein during the 2nd quarter worth approximately $1,298,000. Finally, GAM Holding AG bought a new position in AllianceBernstein during the 2nd quarter worth approximately $1,362,000. 20.26% of the stock is currently owned by institutional investors and hedge funds.
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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