Blue Fin Capital Inc. raised its stake in AllianceBernstein Holding LP (NYSE:AB) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,575 shares of the company’s stock after buying an additional 800 shares during the period. Blue Fin Capital Inc.’s holdings in AllianceBernstein Holding were worth $363,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Diligent Investors LLC increased its stake 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 valued at $296,000 after buying an additional 794 shares during the last quarter. ING Groep NV increased its stake 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 valued at $2,563,000 after buying an additional 20,000 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake 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 valued at $445,000 after buying an additional 50 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake 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 valued at $1,219,000 after buying an additional 1,691 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake 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 valued at $6,454,000 after buying an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 26.32% of the company’s stock.
AllianceBernstein Holding LP (NYSE:AB) traded down 0.68% during trading on Monday, hitting $21.80. 70,256 shares of the company were exchanged. AllianceBernstein Holding LP has a 12 month low of $16.11 and a 12 month high of $27.70. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.33 and a beta of 1.31. The stock’s 50-day moving average is $22.28 and its 200-day moving average is $22.91.
AllianceBernstein Holding (NYSE:AB) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.04. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. The firm had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $701.98 million. During the same period last year, the company posted $0.48 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts anticipate that AllianceBernstein Holding LP will post $1.73 earnings per share for the current year.
Several analysts have recently commented on the stock. Keefe, Bruyette & Woods set a $24.00 price objective on shares of AllianceBernstein Holding and gave the company a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded shares of AllianceBernstein Holding from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Jefferies Group lifted their price target on shares of AllianceBernstein Holding from $21.50 to $22.00 and gave the company a “hold” rating in a report on Monday, July 11th. Finally, Citigroup Inc. reduced their price target on shares of AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $25.76.
In related news, Director Weston M. Hicks sold 4,539 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total transaction of $97,588.50. Following the sale, the director now directly owns 26,469 shares of the company’s stock, valued at $569,083.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.40% 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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