Insider Selling: AllianceBernstein Holding L.P. (NYSE:AB) Director Sells $205,900.00 in Stock

AllianceBernstein Holding L.P. (NYSE:AB) Director Charles G.T. Stonehill sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $41.18, for a total value of $205,900.00. Following the sale, the director now owns 20,923 shares of the company’s stock, valued at $861,609.14. The trade was a 19.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AllianceBernstein Stock Down 0.3 %

Shares of AllianceBernstein stock opened at $40.76 on Friday. The business’s fifty day simple moving average is $37.78 and its 200-day simple moving average is $37.30. The firm has a market cap of $4.51 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.78 and a beta of 0.85. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $41.86.

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

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 5th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, May 5th. This represents a $3.20 annualized dividend and a dividend yield of 7.85%. AllianceBernstein’s dividend payout ratio is currently 86.02%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors and hedge funds have recently modified their holdings of the company. Transce3nd LLC purchased a new stake in AllianceBernstein during the fourth quarter worth about $25,000. Luken Investment Analytics LLC purchased a new stake in AllianceBernstein during the 4th quarter worth approximately $37,000. Mountain Hill Investment Partners Corp. acquired a new stake in AllianceBernstein during the 1st quarter worth approximately $38,000. Summit Securities Group LLC purchased a new position in AllianceBernstein in the 4th quarter valued at approximately $41,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of AllianceBernstein during the first quarter worth $48,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

About AllianceBernstein

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.