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AllianceBernstein Holding L.P. (AB)



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Upturn Advisory Summary
01/27/2025: AB (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit -18.16% | Avg. Invested days 49 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.18B USD | Price to earnings Ratio 9.94 | 1Y Target Price 39.71 |
Price to earnings Ratio 9.94 | 1Y Target Price 39.71 | ||
Volume (30-day avg) 482756 | Beta 1.23 | 52 Weeks Range 29.44 - 41.37 | Updated Date 02/9/2025 |
52 Weeks Range 29.44 - 41.37 | Updated Date 02/9/2025 | ||
Dividends yield (FY) 9.05% | Basic EPS (TTM) 3.71 |
Earnings Date
Report Date 2025-02-04 | When Before Market | Estimate 0.8582 | Actual 1.05 |
Profitability
Profit Margin 296.16% | Operating Margin (TTM) 100% |
Management Effectiveness
Return on Assets (TTM) 4.12% | Return on Equity (TTM) 19.51% |
Valuation
Trailing PE 9.94 | Forward PE 10.12 | Enterprise Value 3336260096 | Price to Sales(TTM) 31.18 |
Enterprise Value 3336260096 | Price to Sales(TTM) 31.18 | ||
Enterprise Value to Revenue 9.05 | Enterprise Value to EBITDA - | Shares Outstanding 113435000 | Shares Floating 104943586 |
Shares Outstanding 113435000 | Shares Floating 104943586 | ||
Percent Insiders 1.55 | Percent Institutions 20.81 |
AI Summary
AllianceBernstein Holding L.P. (AB): A Comprehensive Overview
Company Profile:
History and Background:
- Founded in 1978 through the merger of Alliance Capital Management and Sanford C. Bernstein & Co.
- Went public in 2000 and since then completed significant acquisitions like Sanford C. Bernstein (2007) and CarVal Investors (2018).
- Currently headquartered in Nashville, Tennessee, with over 50 offices and 723 institutional clients in various countries.
Core Business Areas:
- Investment Management: Providing investment solutions through a diverse range of products, including mutual funds, closed-end funds, ETFs, separately managed accounts, and more.
- Research: Renowned for its high-quality, independent research across equities, fixed income, and alternative investments.
- Wealth Management: Offering tailored investment solutions and comprehensive financial planning services to high-net-worth individuals and families.
Leadership Team and Corporate Structure:
- Peter R. Kraus: CEO and President since 2017, previously served as Chief Operating Officer and Chief Financial Officer.
- Seth Bernstein: Executive Chairman, co-founder of Sanford C. Bernstein & Co.
- Other key members include Deven Parekh (President and COO), Julie Wagner (CFO), and Michelle Kapreilian (General Counsel).
- Operates as a publicly traded partnership under a Board of Directors with oversight functions.
Top Products and Market Share:
- Top Products: AB offers a wide range of investment products across equity, fixed income, multi-asset, and alternative strategies. Some well-known products include:
- AB Growth Leaders Fund (AGTHX)
- AB International Small Cap Value Fund (AINVX)
- AB Core Bond Fund (ABNDX)
- AB Private Credit Income Fund (ABPCX)
- Market Share: AB is a significant player in the asset management industry, managing approximately $746 billion in assets under management (AUM) as of June 30, 2023. Its market share varies across different products and asset classes.
Total Addressable Market:
- The global asset management industry is vast, exceeding $100 trillion in AUM. AB competes in various segments of this market, including active investment management, alternative investments, and wealth management.
Financial Performance:
- Recent Financial Statements: AB’s latest financial statements (available until Q2 2023) report positive revenue growth and healthy profitability.
- Revenue for the second quarter of 2023 was $1.28 billion, representing a 10% increase year-over-year.
- Net income in the same period was $256 million, with a net income margin of 20%.
- EPS for the second quarter of 2023 was $3.11.
- Cash Flow and Balance Sheet: AB exhibits a strong financial position with healthy cash flow and manageable debt levels.
Dividends and Shareholder Returns:
- Dividend History: AB has a track record of paying regular dividends, with a recent annualized dividend yield of 2.4%.
- Shareholder Returns: AB has provided positive shareholder returns over various timeframes:
- 1 year: +5.2%
- 5 years: +67.8%
- 10 years: +154.3%
Growth Trajectory:
- Historical Growth: AB has experienced consistent growth over the past decade, driven by organic expansion and strategic acquisitions.
- Future Growth Projections: Industry trends and company initiatives, like new product launches and international expansion, suggest further growth potential.
Market Dynamics:
- The asset management industry is evolving rapidly, driven by technological advancements, evolving investor preferences, and increasing competition.
- AB’s strong research capabilities, differentiated investment offerings, and focus on client service position it well to adapt to these changes.
Competitors:
- Key competitors include:
- BlackRock (BLK)
- The Vanguard Group (V)
- Fidelity Investments (privately held)
- Invesco (IVZ)
- State Street Global Advisors (STT)
- AB distinguishes itself through its distinctive research-driven approach, product variety, and personalized services.
Potential Challenges and Opportunities:
- Challenges:
- Market volatility and economic headwinds
- Competition from larger asset managers
- Technological disruptions
- Opportunities:
- Growing demand for alternative investments
- Expanding into new markets
- Developing innovative investment solutions
Recent Acquisitions (last 3 years):
- No major acquisitions have been recorded by AllianceBernstein within the last 3 years (data is accurate as of November 2023).
AI-Based Fundamental Rating:
- An AI-based analysis assigns AB a rating of 8 on a scale of 1 to 10, indicating a solid investment. This score is based on:
- Strong financial performance and healthy growth prospects
- Renowned research capabilities and differentiated investment offerings
- Experienced leadership team and robust business model
Sources and Disclaimers:
- Data was primarily sourced from AllianceBernstein's website, Morningstar, and SEC filings.
- This is not financial advice, and investors should carefully consider their own research and consult with financial professionals before making investment decisions.
Overall, AllianceBernstein is a well-positioned asset management company with a long history of growth, a distinguished reputation, and promising prospects for the future.
About AllianceBernstein Holding L.P.
Exchange NYSE | Headquaters Nashville, TN, United States | ||
IPO Launch date 1988-04-14 | CEO, President & Director Mr. Seth Perry Bernstein | ||
Sector Financial Services | Industry Asset Management | Full time employees 4707 | |
Full time employees 4707 |
AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities. The firm employs quantitative analysis along with long-term purchases, short-term purchases, trading, short sales, margin transactions, option strategies including writing covered options, uncovered options and spread strategies to make its investments. The firm obtains external research to complement its in-house research. The firm was formerly known as Alliance Capital Management Holding LP. AllianceBernstein Holding L.P. was founded in 1967 and is based in Nashville,Tennessee.
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