AllianceBernstein Holding LP (AB) is Downgraded by Citigroup to Neutral

AllianceBernstein Holding LP (AB) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Nov 22, 2016.

On the company’s financial health, AllianceBernstein Holding LP reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.43. The company had revenue of $747.59 million for the quarter, compared to analysts expectations of $736.76 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

AllianceBernstein Holding LP (AB) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $23.4 and reached the intraday high at $23.695. The bulls started the profit booking and pushed the shares to intraday low of $23.2. The trading session was marked by a volume range of 2,07,441 shares exchanging hands. The 52-week high of the shares is $26.24 and the 52-week low is $16.11. The market cap of the company stands at $2,207 M and there are 9,47,16,915 shares in public circulation.

Investors should note that on Oct 26, 2016, AllianceBernstein Holding LP announced a cash dividend of $0.0200. The company’s management has announced Nov 28, 2016 as the ex-dividend date and fixed the record date on Nov 30, 2016. The payable date has been fixed on Dec 15, 2016.

In a different news, on Aug 4, 2016, Weston M Hicks (director) sold 4,539 shares at $21.50 per share price. According to the SEC, on Jun 9, 2016, Edward J Farrell (SVP and Controller) sold 5,000 shares at $23.61 per share price. On May 23, 2016, Scott A Schoen (director) purchased 11,500 shares at $23.09 per share price, according to the Form-4 filing with the securities and exchange commission.

AllianceBernstein Holding L.P. (AB Holding) is engaged in providing research investment management and related services to a range of clients. The Company’s principal services include institutional services retail services private wealth management services and Bernstein research services. AB Holding owns 36.9% of limited partnership interest in AllianceBernstein L.P. (AB). Its investment services include actively managed equity strategies with global and regional portfolios across capitalization ranges and investment strategies; actively managed traditional and unconstrained fixed income strategies; passive management including index and enhanced index strategies; alternative investments including hedge funds fund of funds and private equity (direct real estate investing) and multi-asset services and solutions. Its institutions and retail businesses are referred to as AB and private wealth management and Bernstein Research Services are referred to as AB Bernstein.

AllianceBernstein Holding LP

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