AllianceBernstein Holding L.P. (NYSE:AB) COO James A. Gingrich sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $23.25, for a total transaction of $162,750.00. Following the sale, the chief operating officer now directly owns 167,659 shares of the company’s stock, valued at approximately $3,898,071.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of AllianceBernstein Holding L.P. (NYSE AB) opened at 23.35 on Monday. AllianceBernstein Holding L.P. has a 12 month low of $20.40 and a 12 month high of $26.15. The firm has a market cap of $2.18 billion, a P/E ratio of 10.73 and a beta of 1.56. The firm has a 50-day moving average of $24.23 and a 200 day moving average of $23.06.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. The firm had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $771.88 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that AllianceBernstein Holding L.P. will post $2.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 7th were given a dividend of $0.49 per share. 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. This represents a $1.96 annualized dividend and a yield of 8.39%. AllianceBernstein Holding L.P.’s dividend payout ratio is 89.91%.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in AllianceBernstein Holding L.P. by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,207 shares of the asset manager’s stock worth $370,000 after buying an additional 541 shares during the last quarter. Symons Capital Management Inc. boosted its stake in AllianceBernstein Holding L.P. by 2.9% in the second quarter. Symons Capital Management Inc. now owns 20,105 shares of the asset manager’s stock worth $476,000 after buying an additional 565 shares during the last quarter. Blue Fin Capital Inc. boosted its stake in AllianceBernstein Holding L.P. by 2.3% in the second quarter. Blue Fin Capital Inc. now owns 26,383 shares of the asset manager’s stock worth $623,000 after buying an additional 600 shares during the last quarter. Sigma Planning Corp boosted its stake in AllianceBernstein Holding L.P. by 4.0% in the second quarter. Sigma Planning Corp now owns 16,827 shares of the asset manager’s stock worth $398,000 after buying an additional 647 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake 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. 19.41% of the stock is owned by hedge funds and other institutional investors.

AB has been the subject of a number of research analyst reports. ValuEngine downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Sidoti initiated coverage on shares of AllianceBernstein Holding L.P. in a research report on Monday, June 5th. They set a “buy” rating and a $28.00 target price for the company. Zacks Investment Research downgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. BidaskClub raised shares of AllianceBernstein Holding L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of AllianceBernstein Holding L.P. in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.25.

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.

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

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