AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities. The firm invests in public equity, fixed income, and alternative investment markets across the globe. It employs long/short strategy to make its investments. The firm conducts in-house research to make its investments. AllianceBernstein Holding L.P. was founded in 1987 and is based in New York, New York.
AllianceBernstein Trading Up 0.5 %
AB Stock opened at $44.22 on Tuesday. The firm has a market cap of $4.40 billion, a P/E ratio of 11.89 and a beta of 1.30. AllianceBernstein has a 1-year low of $35.20 and a 1-year high of $57.54. The business's 50 day moving average is $42.12 and its 200-day moving average is $43.35.
AllianceBernstein (NYSE:AB - Get Rating) last released its quarterly earnings results on Friday, July 29th. The asset manager reported $0.71 EPS for the quarter, hitting analysts' consensus estimates of $0.71. The business had revenue of $971.40 million for the quarter. AllianceBernstein had a return on equity of 24.10% and a net margin of 8.30%. The firm's revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. Sell-side analysts forecast that AllianceBernstein will post 2.85 EPS for the current year.
AllianceBernstein Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Monday, August 8th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 5th. This represents a $2.84 dividend on an annualized basis and a yield of 6.42%. AllianceBernstein's dividend payout ratio (DPR) is presently 96.77%.
Insider Buying and Selling
In related news, insider Mark R. Manley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $38.98, for a total transaction of $194,900.00. Following the sale, the insider now directly owns 44,334 shares in the company, valued at approximately $1,728,139.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AllianceBernstein news, insider Mark R. Manley sold 5,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $38.98, for a total value of $194,900.00. Following the transaction, the insider now directly owns 44,334 shares in the company, valued at approximately $1,728,139.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles G.T. Stonehill sold 1,400 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $40.61, for a total value of $56,854.00. Following the completion of the transaction, the director now owns 19,914 shares in the company, valued at $808,707.54. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.