Foundry Partners LLC lifted its stake in AllianceBernstein Holding LP (NYSE:AB) by 9.0% during the 1st quarter, Holdings Channel reports. The firm owned 547,491 shares of the asset manager’s stock after acquiring an additional 45,089 shares during the period. Foundry Partners LLC’s holdings in AllianceBernstein were worth $15,817,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in AllianceBernstein during the first quarter worth about $42,000. TCI Wealth Advisors Inc. bought a new position in AllianceBernstein during the fourth quarter worth about $55,000. Ipswich Investment Management Co. Inc. bought a new position in AllianceBernstein during the fourth quarter worth about $87,000. Synovus Financial Corp lifted its holdings in AllianceBernstein by 26.8% during the fourth quarter. Synovus Financial Corp now owns 4,729 shares of the asset manager’s stock worth $130,000 after acquiring an additional 1,000 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in AllianceBernstein during the fourth quarter worth about $164,000. Institutional investors and hedge funds own 17.90% of the company’s stock.
Separately, Zacks Investment Research upgraded AllianceBernstein from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, April 16th.
AB stock traded down $0.13 during midday trading on Monday, hitting $29.83. 2,321 shares of the company’s stock were exchanged, compared to its average volume of 195,259. The firm has a market cap of $2.89 billion, a PE ratio of 11.15, a P/E/G ratio of 3.09 and a beta of 1.23. AllianceBernstein Holding LP has a one year low of $23.34 and a one year high of $31.42.
AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Wednesday, February 13th. The asset manager reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The company had revenue of $804.66 million for the quarter, compared to analyst estimates of $706.20 million. AllianceBernstein had a return on equity of 17.10% and a net margin of 7.21%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. On average, sell-side analysts expect that AllianceBernstein Holding LP will post 2.43 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.baseballdailydigest.com/news/2019/04/22/foundry-partners-llc-buys-45089-shares-of-alliancebernstein-holding-lp-ab.html.
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.
Featured Article: Trading signals using Bollinger bands
Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AllianceBernstein Holding LP (NYSE:AB).
Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.