There has been some selling insider activity on AllianceBernstein Holding L.P. (NYSE:AB) recently. James A. Gingrich, Chief Operating Officer let go of $481,530 worth of shares at a price of $22.93 on Fri the 9th. Gingrich now owns $8,497,422 of stock as recorded in a recent Form 4 SEC filing. Edward J. Farrell, Sr VP disclosed the sale of 10,000 shares. The shares were purchased at an average price of $23.15. The Sr VP now owns $674,753 of the stock per the Form 4 SEC filing.
James A. Gingrich, Chief Operating Officer reported the sale of 7,000 shares of AB stock. The shares were sold on June 6th for a price of $22.63. Gingrich now owns $8,623,863 of the stock according to the SEC filing.
AllianceBernstein Holding L.P., launched on November 18, 1987, is involved 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. The Business’s services span various investment disciplines, including market capitalization (large-, mid- and small-cap equities), term (long-, intermediate- and short-duration debt securities), and geographic location (the United States, international, global, emerging markets, regional and local), in the markets around the world..
Here are some other firms who have updated their holdings. As of the end of the quarter Morgan Stanley had acquired a total of 740,107 shares growing its position 865.9%. The value of the total investment in AllianceBernstein Holding L.P. increased from $2,004,000 to $18,864,000 increasing 841.3% quarter over quarter. As of quarter end Tower Research Capital LLC (trc) had sold 1,694 shares trimming its stake by 36.1%. The value of the investment in AllianceBernstein Holding L.P. went from $110,000 to $69,000 a change of 37.3% since the last quarter.
Goldman Sachs Group Inc downsized its position by shedding 19,940 shares a decrease of 3.8% as of 03/31/2017. Goldman Sachs Group Inc claims 500,638 shares worth $11,440,000. The value of the position overall is down by 6.3%. Schroder Investment Management Group augmented its holdings by buying 3,689 shares an increase of 5.3% in the quarter. Schroder Investment Management Group owns 73,589 shares with a value of $1,656,000. The total value of its holdings increased 1.0%.
On November 22, 2016 the stock rating was changed to a “Neutral” according to a Citigroup report which is down from the previous “Buy” rating. On October 14 Keefe Bruyette & Woods left the company rating at “Market Perform” and moved down the price target from $28.00 to $24.00.
July 29 investment analysts at Citigroup kept the stock rating at “Buy” but lowered the price expectation to $27.00 from $30.00. On March 15 the company was upgraded from “Neutral” to “Buy” by Bank of America.
On February 12 Keefe Bruyette & Woods maintained a stock rating of “Market Perform” but moved down the price target from $26.00 to $20.00. On January 11 Keefe Bruyette & Woods kept the company rating at “Market Perform” but lowered the price target to $26.00 from $28.00.
In the market the company is trading up since yesterday’s close of $23. The company declared a dividend which was paid on Thursday the 18th of May 2017. The dividend was $0.495 per share for the quarter which comes to $1.98 on an annualized basis. The dividend yield was $8.74. The ex-dividend date was set for Thursday the 4th of May 2017.
Shares last traded at $23.25 a tad above $21.85, the stock’s 50 day moving average and which is a tad above the 200 day moving average of $22.79. The 50 day moving average was up $1.40 and the 200 day average went up by +2.02%.
The company’s P/E ratio is 10.86 and the market cap is 2.24B. As of the last earnings report the EPS was $2.14 and is expected to be $1.99 for the current year with 96,473,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.48 with next year’s EPS anticipated to be $2.12.