JPMorgan Chase & Co. raised its position in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 12.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 44,807 shares of the asset manager’s stock after buying an additional 5,025 shares during the period. JPMorgan Chase & Co.’s holdings in AllianceBernstein Holding L.P. were worth $1,023,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp boosted its position in AllianceBernstein Holding L.P. by 51.8% in the first quarter. M&T Bank Corp now owns 27,729 shares of the asset manager’s stock worth $634,000 after buying an additional 9,461 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in AllianceBernstein Holding L.P. by 2.9% in the first quarter. Pinnacle Associates Ltd. now owns 33,600 shares of the asset manager’s stock worth $768,000 after buying an additional 950 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in AllianceBernstein Holding L.P. by 90.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,417 shares of the asset manager’s stock worth $1,015,000 after buying an additional 21,127 shares during the last quarter. Wade G W & Inc. acquired a new position in AllianceBernstein Holding L.P. during the first quarter worth about $203,000. Finally, Ramsey Quantitative Systems acquired a new position in AllianceBernstein Holding L.P. during the first quarter worth about $521,000. 22.83% of the stock is owned by hedge funds and other institutional investors.
AllianceBernstein Holding L.P. (AB) opened at 24.75 on Monday. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.56 and a beta of 1.55. The stock’s 50 day moving average price is $23.58 and its 200 day moving average price is $22.92. AllianceBernstein Holding L.P. has a 52-week low of $20.40 and a 52-week high of $25.12.
AllianceBernstein Holding L.P. (NYSE:AB) last issued its earnings results on Thursday, April 27th. The asset manager reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $764.92 million during the quarter, compared to the consensus estimate of $746.52 million. AllianceBernstein Holding L.P. had a return on equity of 18.31% and a net margin of 9.74%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. On average, analysts predict that AllianceBernstein Holding L.P. will post $2.03 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “AllianceBernstein Holding L.P. (NYSE:AB) Shares Bought by JPMorgan Chase & Co.” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://stocknewstimes.com/2017/07/24/alliancebernstein-holding-l-p-nyseab-shares-bought-by-jpmorgan-chase-co.html.
A number of research firms have issued reports on AB. BidaskClub raised AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, July 13th. Sidoti began coverage on AllianceBernstein Holding L.P. in a research note on Monday, June 5th. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine cut AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Bank of America Corporation raised AllianceBernstein Holding L.P. from an “underperform” rating to a “buy” rating and boosted their target price for the company from $24.00 to $25.00 in a research note on Wednesday, April 12th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $26.60.
In other news, Director Lorie A. Slutsky sold 12,663 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $21.01, for a total value of $266,049.63. Following the completion of the sale, the director now directly owns 20,166 shares in the company, valued at approximately $423,687.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven G. Elliott sold 11,414 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $20.49, for a total value of $233,872.86. Following the completion of the sale, the director now owns 15,627 shares of the company’s stock, valued at $320,197.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,118 shares of company stock valued at $9,684,682. 3.40% of the stock is currently owned by company insiders.
AllianceBernstein Holding L.P. Company Profile
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.
Receive News & Ratings for AllianceBernstein Holding L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein Holding L.P. and related companies with MarketBeat.com's FREE daily email newsletter.
