AllianceBernstein (NYSE:AB) – Jefferies Group raised their Q1 2018 EPS estimates for AllianceBernstein in a report issued on Wednesday, April 11th. Jefferies Group analyst S. Thind now expects that the asset manager will post earnings per share of $0.65 for the quarter, up from their prior estimate of $0.59. Jefferies Group also issued estimates for AllianceBernstein’s Q4 2018 earnings at $0.72 EPS.
AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Tuesday, February 13th. The asset manager reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The firm had revenue of $919.14 million for the quarter, compared to analysts’ expectations of $839.49 million. AllianceBernstein had a return on equity of 14.72% and a net margin of 6.30%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS.
Shares of AB stock opened at $26.55 on Thursday. The stock has a market capitalization of $2,556.24, a P/E ratio of 11.54, a P/E/G ratio of 1.70 and a beta of 1.46. AllianceBernstein has a 52-week low of $20.40 and a 52-week high of $28.15.
Several large investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of AllianceBernstein by 3.8% during the 4th quarter. American Century Companies Inc. now owns 2,552,999 shares of the asset manager’s stock worth $63,953,000 after acquiring an additional 93,041 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of AllianceBernstein by 57.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,100,495 shares of the asset manager’s stock worth $27,568,000 after acquiring an additional 402,497 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AllianceBernstein by 787.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,134 shares of the asset manager’s stock worth $11,107,000 after acquiring an additional 404,727 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of AllianceBernstein by 71.5% during the 4th quarter. Deutsche Bank AG now owns 433,136 shares of the asset manager’s stock worth $10,850,000 after acquiring an additional 180,536 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC boosted its stake in shares of AllianceBernstein by 43.4% during the 4th quarter. Philadelphia Financial Management of San Francisco LLC now owns 409,554 shares of the asset manager’s stock worth $10,259,000 after acquiring an additional 124,030 shares in the last quarter. 22.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, General Counsel Laurence E. Cranch sold 40,848 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $26.26, for a total transaction of $1,072,668.48. Following the sale, the general counsel now owns 134,269 shares of the company’s stock, valued at approximately $3,525,903.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Laurence E. Cranch sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $26.32, for a total value of $987,000.00. Following 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. 2.70% of the stock is currently owned by insiders.
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AllianceBernstein Company Profile
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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