AllianceBernstein Holding LP
AB
ISIN US01881G1067 / Valor 2460130
AllianceBernstein Holding LP
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About company
AllianceBernstein Holding LP (AB) is a global investment management and research firm that has been integrating artificial intelligence (AI) and data science into its operations to enhance productivity and efficiency. This strategic shift reflects the firm's commitment to adapting to the changing needs of its clients in the financial-services industry. Under the leadership of Andrew Chin, Head of Investment Solutions and Sciences, AB has been pioneering the use of AI across various facets of its business, including research and operations. This initiative is part of the firm's broader effort to leverage technology to improve investment outcomes and operational effectiveness. While the company's efforts in AI and data science are a significant focus, AB continues to provide a wide range of investment solutions and services to its clients, maintaining its position as a leading entity in the investment management sector.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (07.08.2024):
Net Revenues
AllianceBernstein Holding LP reported net revenues of $1.0 billion for the second quarter of 2024, reflecting a 2% increase from the same quarter in 2023. This growth was primarily driven by higher investment advisory base fees, distribution revenues, and performance fees. However, the deconsolidation of Bernstein Research Services and associated investment losses partially offset these gains.
Operating Income
For the second quarter of 2024, AllianceBernstein Holding LP's operating income was $199.3 million, marking a 5.6% increase compared to the second quarter of 2023. Despite this year-over-year growth, there was a sequential decline of 17.6% from the first quarter of 2024, primarily due to the deconsolidation of Bernstein Research Services and associated investment losses.
Adjusted Earnings Per Unit
AllianceBernstein Holding LP reported an adjusted diluted earnings per unit (EPU) of $0.71 for the second quarter of 2024, which represents a 16.4% increase from $0.61 in the second quarter of 2023. However, this was a slight decrease of 2.7% from the first quarter of 2024, where the adjusted diluted EPU was $0.73.
Assets Under Management
As of June 30, 2024, AllianceBernstein Holding LP's total assets under management (AUM) were $769.5 billion. This represents an increase of $10.8 billion, or 1%, from March 31, 2024, and an 11% increase from June 30, 2023. The growth in AUM was driven by net inflows and market appreciation.
Cash Distribution
AllianceBernstein Holding LP declared a cash distribution of $0.71 per unit for the second quarter of 2024. This distribution is payable on August 15, 2024, to unitholders of record as of August 5, 2024. The cash distribution per unit increased by 16.4% compared to the second quarter of 2023.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4244 M
Market cap (USD)
21,844
Daily traded volume (Shares)
36.9 / 36
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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