AllAnalyst Report
logoMorningstarFebruary 14, 2024

AllianceBernstein Holding L.P.: AllianceBernstein: Rising Markets Contributed to a More Than 10% Increase in Our Valuation

Symbols
AB
Sector(s)
Financial Services
Rating
Current Price
$33.56
Fair Value
Economic Moat
Stewardship
Summary

AllianceBernstein provides investment management services to institutional (43% of assets under management), retail (40%), and private (17%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of January 2024, AB had $726 billion in managed assets, composed primarily of fixed-income (39% of AUM) and equity (43%) strategies, with other investments (made up of asset allocation services and certain other alternative investments) accounting for the remainder. The company also provides sell-side

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Analyst Profile

Greggory Warren

Sector Strategist
Greggory Warren, CFA, is a financial-services sector strategist for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers the traditional U.S.- based asset managers, as well as Berkshire Hathaway.Before assuming his current role in 2017, Warren covered the financial-services sector as a senior analyst since late 2008. Before that time, he covered non-alcoholic beverage manufacturers and distributors, packaged food firms, food service distributors, and tobacco companies. Prior to joining Morningstar in 2005, Warren worked as a buy-side equity analyst for more than seven years, covering consumer staples and consumer cyclicals.Warren holds a bachelor's degree in accounting and English from Augustana College. He also holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Chicago. Since 2014, Warren has been selected to participate on the analyst panel at Berkshire Hathaway's annual meeting, asking questions directly of Warren Buffett and Charlie Munger. He ranked second in the investment services industry in The Wall Street Journal's annual “Best on the Street” analysts survey in 2013, the last year the survey was conducted.