AllianceBernstein (NYSE:AB) – Investment analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for shares of AllianceBernstein in a report released on Wednesday, April 11th. Jefferies Group analyst S. Thind now forecasts that the asset manager will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.58. Jefferies Group also issued estimates for AllianceBernstein’s Q3 2018 earnings at $0.59 EPS and FY2019 earnings at $2.64 EPS.
AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Tuesday, February 13th. The asset manager reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.19. AllianceBernstein had a return on equity of 14.72% and a net margin of 6.30%. The business had revenue of $919.14 million during the quarter, compared to analysts’ expectations of $839.49 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s quarterly revenue was up 16.9% compared to the same quarter last year.
AllianceBernstein stock opened at $26.80 on Friday. AllianceBernstein has a 12 month low of $20.40 and a 12 month high of $28.15. The company has a market cap of $2,556.24, a PE ratio of 11.65, a P/E/G ratio of 1.70 and a beta of 1.46.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of AllianceBernstein by 787.3% in the third quarter. JPMorgan Chase & Co. now owns 456,134 shares of the asset manager’s stock valued at $11,107,000 after acquiring an additional 404,727 shares in the last quarter. Stifel Financial Corp lifted its position in shares of AllianceBernstein by 10.1% in the third quarter. Stifel Financial Corp now owns 251,595 shares of the asset manager’s stock valued at $6,116,000 after acquiring an additional 23,099 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in AllianceBernstein by 25.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,608 shares of the asset manager’s stock worth $1,570,000 after buying an additional 12,961 shares during the period. California Public Employees Retirement System lifted its position in AllianceBernstein by 5.7% during the third quarter. California Public Employees Retirement System now owns 191,870 shares of the asset manager’s stock worth $4,662,000 after buying an additional 10,270 shares during the period. Finally, New England Research & Management Inc. lifted its position in AllianceBernstein by 6.0% during the fourth quarter. New England Research & Management Inc. now owns 79,278 shares of the asset manager’s stock worth $1,986,000 after buying an additional 4,500 shares during the period. 22.83% of the stock is currently owned by institutional investors.
In other AllianceBernstein news, General Counsel Laurence E. Cranch sold 40,848 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $26.26, for a total value of $1,072,668.48. Following the sale, the general counsel now owns 134,269 shares of the company’s stock, valued at $3,525,903.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Laurence E. Cranch sold 37,500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $26.32, for a total value of $987,000.00. Following the completion of the sale, the general counsel now directly owns 150,707 shares in the company, valued at approximately $3,966,608.24. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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