News stories about AllianceBernstein (NYSE:AB) have trended somewhat positive on Wednesday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. AllianceBernstein earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave press coverage about the asset manager an impact score of 45.3567576862229 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
AllianceBernstein (AB) opened at $27.05 on Wednesday. The firm has a market capitalization of $2,530.00, a PE ratio of 11.00, a PEG ratio of 1.17 and a beta of 1.44. AllianceBernstein has a 1-year low of $20.40 and a 1-year high of $28.15.
AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. AllianceBernstein had a return on equity of 28.09% and a net margin of 121.83%. The company had revenue of $919.14 million during the quarter, compared to analysts’ expectations of $839.49 million. During the same quarter last year, the company earned $0.67 EPS. AllianceBernstein’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities analysts forecast that AllianceBernstein will post 2.52 earnings per share for the current year.
Several equities analysts have recently weighed in on AB shares. ValuEngine cut AllianceBernstein from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded AllianceBernstein from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.00.
In related news, General Counsel Laurence E. Cranch sold 40,848 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $26.26, for a total value of $1,072,668.48. Following the completion of the sale, the general counsel now directly owns 134,269 shares in the company, valued at approximately $3,525,903.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Axa Equitable Holdings, Inc. bought 124,983 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $24.95 per share, with a total value of $3,118,325.85. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.
AllianceBernstein Company Profile
AllianceBernstein Holding L.P. is engaged 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.