AllianceBernstein Holding L.P. (NYSE:AB) Director Sells $205,900.00 in Stock

AllianceBernstein Holding L.P. (NYSE:AB) Director Charles G.T. Stonehill sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $41.18, for a total transaction of $205,900.00. Following the transaction, the director now owns 20,923 shares of the company’s stock, valued at $861,609.14. This trade represents a 19.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AllianceBernstein Trading Down 0.3 %

Shares of AB opened at $40.76 on Friday. The company’s 50 day simple moving average is $37.78 and its 200-day simple moving average is $37.30. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $41.86. The firm has a market cap of $4.51 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.78 and a beta of 0.85.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. The company had revenue of $838.21 million for the quarter, compared to analyst estimates of $859.36 million. During the same period in the previous year, the business posted $0.73 earnings per share. AllianceBernstein’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a yield of 7.85%. AllianceBernstein’s payout ratio is 86.02%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Sanford C. Bernstein lowered AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a report on Thursday, April 3rd. Barclays raised their target price on AllianceBernstein from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. StockNews.com raised AllianceBernstein from a “sell” rating to a “hold” rating in a report on Saturday. Bank of America cut shares of AllianceBernstein from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $38.00 in a report on Thursday, April 3rd. Finally, TD Cowen lowered their target price on shares of AllianceBernstein from $37.50 to $34.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, AllianceBernstein currently has a consensus rating of “Hold” and a consensus target price of $37.67.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Costello Asset Management INC purchased a new position in AllianceBernstein in the 1st quarter valued at $73,000. Cary Street Partners Financial LLC boosted its holdings in shares of AllianceBernstein by 3.9% in the first quarter. Cary Street Partners Financial LLC now owns 7,792 shares of the asset manager’s stock valued at $298,000 after acquiring an additional 293 shares in the last quarter. Argent Trust Co increased its stake in shares of AllianceBernstein by 1.5% during the first quarter. Argent Trust Co now owns 72,831 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 1,102 shares during the period. Moors & Cabot Inc. raised its holdings in AllianceBernstein by 5.3% during the first quarter. Moors & Cabot Inc. now owns 61,940 shares of the asset manager’s stock worth $2,373,000 after purchasing an additional 3,102 shares in the last quarter. Finally, US Bancorp DE lifted its position in AllianceBernstein by 44.0% in the first quarter. US Bancorp DE now owns 14,620 shares of the asset manager’s stock valued at $560,000 after purchasing an additional 4,465 shares during the period. Institutional investors and hedge funds own 19.25% of the company’s stock.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.