AllianceBernstein (AB) Announces Quarterly Earnings Results
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.
TRADEMARK VIOLATION NOTICE: This story was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://theolympiareport.com/2018/02/14/alliancebernstein-ab-announces-quarterly-earnings-results.html.
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.
Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.