AllianceBernstein Holding LP (NYSE:AB) – Equities researchers at Jefferies Group cut their FY2016 EPS estimates for AllianceBernstein Holding in a research report issued on Tuesday. Jefferies Group analyst S. Thind now anticipates that the brokerage will post earnings per share of $1.74 for the year, down from their previous forecast of $1.77. Jefferies Group has a “Hold” rating and a $22.00 price objective on the stock. Jefferies Group also issued estimates for AllianceBernstein Holding’s Q4 2016 earnings at $0.53 EPS and FY2017 earnings at $2.05 EPS.
AllianceBernstein Holding (NYSE:AB) last issued its earnings results on Thursday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.04. The business had revenue of $725.80 million for the quarter, compared to analyst estimates of $701.98 million. AllianceBernstein Holding had a return on equity of 29.76% and a net margin of 16.18%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share.
Several other brokerages also recently commented on AB. Zacks Investment Research upgraded AllianceBernstein Holding from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Citigroup Inc. lowered their price target on AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.26.
Shares of AllianceBernstein Holding (NYSE:AB) opened at 21.85 on Wednesday. The firm has a market capitalization of $2.11 billion, a PE ratio of 11.36 and a beta of 1.31. AllianceBernstein Holding has a one year low of $16.11 and a one year high of $27.70. The firm’s 50 day moving average is $22.28 and its 200-day moving average is $22.92.
Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in shares of AllianceBernstein Holding during the second quarter valued at about $112,000. Boston Private Wealth LLC boosted its position in shares of AllianceBernstein Holding by 3.2% in the second quarter. Boston Private Wealth LLC now owns 10,197 shares of the company’s stock valued at $238,000 after buying an additional 320 shares during the period. Diligent Investors LLC boosted its position 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 period. Bridgecreek Investment Management LLC purchased a new position in shares of AllianceBernstein Holding during the second quarter valued at approximately $306,000. Finally, Investors Capital Advisory Services boosted its position in shares of AllianceBernstein Holding by 18.3% in the second quarter. Investors Capital Advisory Services now owns 13,835 shares of the company’s stock valued at $322,000 after buying an additional 2,142 shares during the period. Institutional investors and hedge funds own 26.31% of the company’s stock.
In other news, Director Weston M. Hicks sold 4,539 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $21.50, for a total value of $97,588.50. Following the sale, the director now owns 26,469 shares in the company, valued at $569,083.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.
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.
Receive News & Ratings for AllianceBernstein Holding LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding LP and related companies with MarketBeat.com's FREE daily email newsletter.