AllianceBernstein Holding L.P. (NYSE:AB) Director Sells $196,860.00 in Stock

AllianceBernstein Holding L.P. (NYSE:AB) Director Daniel G. Kaye sold 4,825 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $40.80, for a total value of $196,860.00. Following the transaction, the director now directly owns 39,877 shares of the company’s stock, valued at $1,626,981.60. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AllianceBernstein Price Performance

NYSE AB opened at $40.81 on Wednesday. The business has a fifty day moving average price of $37.83 and a two-hundred day moving average price of $37.30. AllianceBernstein Holding L.P. has a fifty-two week low of $30.57 and a fifty-two week high of $41.86. The stock has a market capitalization of $4.52 billion, a PE ratio of 10.97, a PEG ratio of 0.78 and a beta of 0.85.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $838.21 million during the quarter, compared to the consensus estimate of $859.36 million. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, sell-side analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.20 annualized dividend and a dividend yield of 7.84%. AllianceBernstein’s dividend payout ratio (DPR) is presently 86.02%.

Analyst Upgrades and Downgrades

AB has been the subject of several recent research reports. Sanford C. Bernstein cut AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Thursday, April 3rd. TD Cowen dropped their price objective on AllianceBernstein from $37.50 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Evercore ISI cut their price target on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Bank of America downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $38.00 in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded AllianceBernstein from a “sell” rating to a “hold” rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AB. Transce3nd LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth $25,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth $37,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of AllianceBernstein during the first quarter worth $38,000. Summit Securities Group LLC acquired a new position in shares of AllianceBernstein during the fourth quarter worth $41,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of AllianceBernstein during the first quarter worth $48,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.