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AllianceBernstein (AB) June AUM Up on Market Appreciation

Zacks Equity Research

AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for June 2019. The company’s preliminary month-end AUM of $581 billion increased 3.8% from the prior month. Market appreciation and total net inflows were the primary reasons behind this rise.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 6.3% sequentially to $219 billion. Further, Fixed Income AUM rose 2.1% from May 2019 to $295 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) increased 3.1% to $67 billion.

By channel, month-end Institutions AUM of $269 billion increased 3.1% from the May 2019 level. Moreover, Retail AUM increased 5.4% sequentially to $215 billion. Private Wealth AUM also rose 2.1% to $97 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has rallied 5.7% against the industry’s decline of 7.7%.

AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results displayed a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows, led to this upside. However, the figure edged down 1.2% year over year.

Invesco’s IVZ preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.

Cohen & Steers CNS reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million.

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Invesco Ltd. (IVZ) : Free Stock Analysis Report
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