Alliancebernstein Hldg L P Stock Price, News & Analysis

AllianceBernstein L.P. (NYSE: AB) reported strong financial results for Q4 and FY 2020, with net revenues of $1.1 billion, a 7.7% increase year-over-year, and total AUM reaching $686 billion, growing 10% from 2019. Active net inflows were $14.9 billion, despite low-fee redemptions of $11.8 billion from AXA. The adjusted operating margin improved to 30.1%. Notable increases in earnings per unit and cash distributions were also reported, reflecting resilience amid market volatility. The firm remains optimistic for 2021 while recognizing potential ongoing volatility.

On February 11, 2021, AllianceBernstein (AB) reported a decrease in preliminary assets under management to $683 billion in January 2021, down from $686 billion in December 2020, marking a 0.4% decline. Despite firmwide net inflows, market depreciation offset these gains. Notably, net inflows from Retail and Private Wealth were countered by outflows from Institutions. Additionally, outstanding redemptions from AXA S.A. total approximately $2 billion, anticipated in the first half of 2021.

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will announce their Fourth Quarter 2020 financial results on February 11, 2021. The management team, including CEO Seth Bernstein and CFO John Weisenseel, will host a teleconference at 8:00 am (ET) after the results release. Investors can join via webcast on AB's Investor Relations website or by phone at (833) 495-0952. A replay will be accessible for one week post-call. AllianceBernstein is a global investment management firm with significant ownership interests from AXA Equitable Holdings.

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) reported a rise in preliminary assets under management to $686 billion by December 2020, a 2.7% increase from $668 billion in November. This growth stemmed from market appreciation, despite some net outflows across private wealth and retail channels. Notably, AXA S.A’s ongoing redemptions contributed to around $11.8 billion in expected redemptions for the year, with total expected redemptions amounting to $14 billion.

On December 14, 2020, AllianceBernstein L.P. (AB) announced the successful closing of its inaugural $405.4 million collateralized loan obligation (CLO), AB BSL CLO I, with Morgan Stanley as the lead arranger. This marks a significant milestone for the firm's CLO management business, established in 2019, led by Scott Macklin. The transaction garnered a positive response from institutional investors, highlighting confidence in AB's leveraged finance platform. Since 2016, AB's middle market direct lending platform has issued nine CLO transactions totaling $3.1 billion.

AllianceBernstein L.P. (AB) announced a significant rise in its assets under management (AUM), reaching $668 billion in November 2020, up from $622 billion in October, marking a 7.4% increase. This growth was attributed to both market appreciation and net inflows across various channels. Notably, Institutions and Retail saw positive net flows, while Private Wealth experienced minor outflows. Additionally, $5.1 billion in inflows to a low-fee Agency MBS mandate contributed to this increase. However, redemptions from AXA S.A. accounted for approximately $11.8 billion year-to-date of an expected $14 billion total.

AllianceBernstein (NYSE: AB) announced participation of President and CEO Seth Bernstein, and Ali Dibadj, Head of Finance and Strategy, at the 2020 Goldman Sachs US Financial Services Virtual Conference on December 8 at 2:20 p.m. (ET).

The event will feature a live audio webcast accessible via the Investor & Media Relations section of AB's website. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein, while AXA Equitable Holdings held around 65.3% economic interest.

AllianceBernstein L.P. (NYSE: AB) announced the appointment of Onur Erzan as Head of Global Client Group, effective January 4, 2021. Erzan, previously a senior partner at McKinsey, brings extensive experience in wealth and asset management, having worked with major financial institutions globally. He will report to CEO Seth Bernstein and replace Robert Keith, who will transition to an advisory role before retiring on June 30, 2021. The firm acknowledges Keith's contributions over 24 years while expressing confidence in Erzan's strategic outlook for industry changes.

On November 11, 2020, AllianceBernstein L.P. (NYSE: AB) reported a decrease in preliminary assets under management to $622 billion for October 2020, down from $631 billion in September, reflecting a 1.4% decline. This drop is primarily attributed to market depreciation and net outflows across all channels, including $2.6 billion in money market outflows and $0.7 billion from AXA S.A. Year-to-date, AXA's redemptions reached approximately $11.8 billion, contributing to total expected redemptions of $14 billion.