|Bid||0.00 x 1100|
|Ask||0.00 x 3100|
|Day's Range||34.21 - 34.70|
|52 Week Range||26.29 - 35.43|
|Beta (5Y Monthly)||1.05|
|PE Ratio (TTM)||13.83|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||3.40 (9.88%)|
|Ex-Dividend Date||Feb 20, 2020|
|1y Target Est||38.00|
Zacks.com featured highlights include: AllianceBernstein, Vipshop, Calavo Growers, BMC Stock and USANA Health Sciences
AllianceBernstein (AB) has been upgraded to a Zacks Rank 1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
AllianceBernstein L.P. (AB) (NYSE: AB), a leading global investment management firm, today announced two senior appointments to the firm's Responsible Investing platform.
The company, which has 32 locations in six U.S. cities and London, has close ties with the project's developer.
AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $629 billion during January 2020 from $623 billion at the end of December 2019. The 1.0% increase was due to total firmwide net inflows, as well as market appreciation. By channel, Retail and Institutions experienced positive net flows, while Private Wealth flows were flat.
The developer teased lease negotiations with a prospective tenant that would occupy almost 20% of the high-rise's office space. Meanwhile, AllianceBernstein is preparing to move its headquarters into the building late this summer, as its anchor tenant.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.AllianceBernstein Holding LP, a powerhouse in fixed-income investing, is seeking to profit from the expertise and size of its trading desk by selling its services to other buy-side firms.Through a new outsourcing service, the $600 billion asset manager will execute other buy-side firms’ bond trades, said James Switzer, its global head of fixed-income trading. It’s already started buying and selling derivatives for an insurance client through its desk in New York.AllianceBernstein will compete with other large Wall Street firms that also offer outsourced trading to money managers, who are looking for ways to cut costs as they face pressure to decrease fees. Much of that entails eliminating jobs in non-client facing roles such as accounting and human resources, while other functions including trading are increasingly being outsourced to firms like AllianceBernstein that have invested in the technology to handle developments in market structure.“It’s hard for asset managers to innovate and create new technology while downsizing,” Switzer said. “You either build it or buy it -- either way, you’re spending money and we’ve already got the systems in place.”Read more: The Buy-Side Trader Is Latest Job to Be Outsourced as Costs RiseEquity markets have largely outpaced their fixed-income counterparts in digitizing their operations, including outsourced trading. It’s also mainly been a sell-side effort so far, with firms like Cantor Fitzgerald LP, Wells Fargo & Co. and Jefferies Financial Group Inc. leading the charge. In Europe, Amundi Services within Amundi Asset Management and BNP Paribas Securities Services offer fixed-income trading to external clients, but not yet in the U.S.AllianceBernstein has introduced a robot to execute some corporate-bond trades directly with bots at dealer counterparties. The robot is designed to save traders time and beat competitors, a meaningful edge in a secondary market starved of liquidity. It’s also one of the few initial firms selected to beta test a new technology to streamline the new issue process. The firm gets top-tier pricing in trading thanks to its size and technological know-how and it’s prepared to pass on that advantage to clients through outsourcing, Switzer said.The service is still in its early days as AllianceBernstein looks to add clients, and more traders internally to accommodate them, Switzer said. Prospective users include smaller asset managers, hedge funds and larger firms with costly headcount to cut. Insurance companies and pension funds also tend to be buy-and-hold investors with fewer needs for internal trading desks.(Updates with background on robot trading in sixth paragraph)To contact the reporters on this story: Molly Smith in New York at firstname.lastname@example.org;Katie Linsell in London at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Nick BakerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: TerraForm Power, M.D.C. Holdings, AllianceBernstein, Legg Mason and Community Healthcare Trust
Although the stock market overall remained northbound in January, severe intraday market fluctuations have dented investors' confidence to some extent.
AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that Fourth Quarter 2019 financial and operating results will be released on Wednesday, February 12, 2020. Management will conduct a teleconference call beginning at 8:00 am (ET), following the release of its financial results. The call will be hosted by Seth P. Bernstein, President & Chief Executive Officer, and John C. Weisenseel, Chief Financial Officer.
AllianceBernstein (AB) has seen solid earnings estimate revision activity over the past two months, and belongs to a strong industry as well.