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.