AllianceBernstein Sees Unusually High Options Volume (NYSE:AB)

Key Points

• Unusual options activity: Investors bought 12,405 call options on Monday, a 4,444% increase over the average daily call volume of 273.
• Share price and trading: AB jumped 4.6% to $40.75 on Monday with volume of 462,133 (vs. average 265,128); the stock trades in a 52-week range of $32.28–$43.30 and has a market cap of $3.71B and a P/E of 13.38.
• Institutional buying and analyst view: Several institutions (notably Goldman Sachs, which added 312,878 shares) materially increased positions and institutional ownership is 19.25%, while analysts’ consensus rating is Hold with a $41.83 target.

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) was the recipient of some unusual options trading on Monday. Stock investors acquired 12,405 call options on the stock. This represents an increase of 4,444% compared to the average daily volume of 273 call options.

Hedge Funds Weigh In On AllianceBernstein

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in AllianceBernstein by 51.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager's stock worth $35,114,000 after purchasing an additional 312,878 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of AllianceBernstein by 1,154.2% during the third quarter. Focus Partners Wealth now owns 336,502 shares of the asset manager's stock worth $12,861,000 after buying an additional 309,673 shares during the period. HRT Financial LP grew its holdings in shares of AllianceBernstein by 438.1% during the second quarter. HRT Financial LP now owns 108,143 shares of the asset manager's stock valued at $4,415,000 after buying an additional 88,045 shares during the last quarter. Chelsea Counsel Co. grew its holdings in shares of AllianceBernstein by 807.9% during the second quarter. Chelsea Counsel Co. now owns 95,330 shares of the asset manager's stock valued at $3,892,000 after buying an additional 84,830 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased its position in shares of AllianceBernstein by 131.6% in the 3rd quarter. Moody Aldrich Partners LLC now owns 137,341 shares of the asset manager's stock valued at $5,249,000 after acquiring an additional 78,047 shares during the period. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Trading Up 4.6%

Shares of AB stock traded up $1.79 during trading hours on Monday, reaching $40.75. 462,133 shares of the company's stock were exchanged, compared to its average volume of 265,128. AllianceBernstein has a fifty-two week low of $32.28 and a fifty-two week high of $43.30. The stock's 50 day moving average is $39.78 and its 200-day moving average is $39.72. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.13 and a beta of 0.86.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The asset manager reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.01. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.The firm had revenue of $884.67 million during the quarter, compared to analysts' expectations of $900.69 million. During the same quarter last year, the firm earned $0.77 EPS. The business's quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that AllianceBernstein will post 3.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on AB. Barclays cut their price objective on shares of AllianceBernstein from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 15th. Evercore ISI increased their price target on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, December 5th. Sanford C. Bernstein restated a "negative" rating on shares of AllianceBernstein in a report on Thursday, January 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded AllianceBernstein from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.83.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm's roots date back to 1967 with the founding of Sanford C.

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