AllianceBernstein (NYSE:AB) released its earnings results on Tuesday. The asset manager reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.19, Bloomberg Earnings reports. The company had revenue of $919.14 million for the quarter, compared to the consensus estimate of $839.49 million. AllianceBernstein had a net margin of 6.38% and a return on equity of 13.72%. AllianceBernstein’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS.

Shares of AllianceBernstein (NYSE AB) opened at $26.35 on Wednesday. The company has a market cap of $2,378.11, a price-to-earnings ratio of 11.93, a PEG ratio of 1.25 and a beta of 1.51. AllianceBernstein has a twelve month low of $20.40 and a twelve month high of $28.00.

In related news, SVP Edward J. Farrell sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $25.20, for a total value of $252,000.00. Following the completion of the transaction, the senior vice president now directly owns 19,147 shares in the company, valued at approximately $482,504.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Axa Equitable Holdings, Inc. bought 124,983 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $24.95 per share, with a total value of $3,118,325.85. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Several research firms have recently commented on AB. Zacks Investment Research raised shares of AllianceBernstein from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, December 19th. ValuEngine downgraded shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Citigroup raised shares of AllianceBernstein from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $31.00 in a report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.00.

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AllianceBernstein 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.

Earnings History for AllianceBernstein (NYSE:AB)

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