AB Stock Summary and Trading Ideas (Alliancebernstein Holding LP Units | NYSE:AB)

AllianceBernstein provides investment management services to institutional (45% of assets under management), retail (39%), and private (16%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of August 2023, AB had $694.0 billion in managed assets, composed primarily of fixed-income (38% 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 research and brokerage services through its Sanford Bernstein subsidiary (which has been put in available-for-sale status following the joint venture agreement with Societe Generale).

Alliancebernstein Holding LP Units trades on the NYSE stock market under the symbol AB.

As of October 2, 2023, AB stock price climbed to $30.57 with 170,473 million shares trading.

AB has a beta of 1.40, meaning it tends to be more sensitive to market movements. AB has a correlation of 0.43 to the broad based SPY ETF.

AB has a market cap of $3.05 billion. This is considered a Mid Cap stock.

Last quarter Alliancebernstein Holding LP Units reported $1 billion in Revenue and $.61 earnings per share. This beat revenue expectation by $165 million and missed earnings estimates by -$.04.

In the last 3 years, AB stock traded as high as $57.54 and as low as $26.50.

The top ETF exchange traded funds that AB belongs to (by Net Assets): ICAP, DSMC.

AB has underperformed the market in the last year with a price return of -7.0% while the SPY ETF gained +18.8%. However, in the short term, AB had mixed performance relative to the market. It has outperformed in the last 3 months, returning -1.0% vs -2.7% return in SPY. But in the last 2 weeks, AB shares have been beat by the market, returning -7.2% compared to an SPY return of -4.2%.

AB support price is $29.87 and resistance is $30.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AB stock will trade within this expected range on the day.