Insider Selling: AllianceBernstein Holding L.P. (AB) COO Sells 10,500 Shares of Stock

AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $23.95, for a total value of $251,475.00. Following the transaction, the chief operating officer now directly owns 115,159 shares in the company, valued at approximately $2,758,058.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AllianceBernstein Holding L.P. (NYSE AB) traded up 1.03% during trading on Monday, hitting $24.45. The stock had a trading volume of 174,454 shares. The firm has a market capitalization of $2.29 billion, a PE ratio of 11.23 and a beta of 1.52. The firm has a 50 day moving average price of $23.81 and a 200-day moving average price of $23.04. AllianceBernstein Holding L.P. has a 1-year low of $20.40 and a 1-year high of $26.15.

AllianceBernstein Holding L.P. (NYSE:AB) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. AllianceBernstein Holding L.P. had a net margin of 6.74% and a return on equity of 13.28%. AllianceBernstein Holding L.P.’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. On average, equities research analysts expect that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 7th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend was Thursday, August 3rd. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s payout ratio is 89.91%.

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Several large investors have recently bought and sold shares of AB. WFG Advisors LP grew its stake in AllianceBernstein Holding L.P. by 24.2% in the 2nd quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock valued at $149,000 after buying an additional 1,228 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in AllianceBernstein Holding L.P. by 70.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 75,524 shares of the asset manager’s stock valued at $1,786,000 after buying an additional 31,107 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in AllianceBernstein Holding L.P. by 399.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock valued at $354,000 after buying an additional 11,980 shares in the last quarter. Royal Bank of Canada grew its stake in AllianceBernstein Holding L.P. by 5.2% in the 2nd quarter. Royal Bank of Canada now owns 96,449 shares of the asset manager’s stock valued at $2,282,000 after buying an additional 4,750 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in AllianceBernstein Holding L.P. in the 2nd quarter valued at approximately $769,000. 19.40% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on AB shares. Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Sidoti began coverage on AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They issued a “buy” rating and a $28.00 target price on the stock. ValuEngine downgraded AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AllianceBernstein Holding L.P. currently has an average rating of “Buy” and a consensus target price of $26.50.

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.

Insider Buying and Selling by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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