Alliancebernstein Hldg L P Stock Price, News & Analysis

AllianceBernstein L.P. (AB) reported solid financial results for Q3 2020, with net revenues of $900 million, a 3% increase year-over-year. Operating income rose 7% to $217 million, reflecting a 24.1% operating margin. The firm achieved net inflows of $3.1 billion, driven by strong performance in Retail and Institutional channels. Ending assets under management reached $630.8 billion, up 5% from the previous quarter. Cash distribution per Unit increased to $0.69, payable on November 12, 2020.

AllianceBernstein L.P. reported a 1.9% decrease in preliminary assets under management, dropping from $643 billion at August's end to $631 billion by September 30, 2020. This decline was mainly attributed to market depreciation and net outflows. Notably, the firm experienced outflows primarily from Institutional clients, partially countered by inflows to Private Wealth. Year-to-date, AXA S.A.'s redemptions accounted for about $11.1 billion of the anticipated $14 billion in total redemptions.

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will release their Third Quarter 2020 financial results on October 22, 2020, followed by a teleconference at 8:00 am (EDT). The call will feature key executives, including CEO Seth P. Bernstein and CFO John C. Weisenseel. Participants can join via webcast or by telephone using ID #5360089. The financial presentation will be available post-release. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AB, with AXA Equitable Holdings (NYSE: EQH) owning 65.3%.

AllianceBernstein L.P. (AB) announced the addition of two independent Directors to its Board: Bertram Scott and Nella Domenici. Scott, who joined on September 23, 2020, has extensive leadership experience in the healthcare and finance sectors, holding past executive roles at Novant Health and CIGNA. Domenici has been with the Board since January 2020 and brings significant financial management expertise from her role at Dataminr and previous positions at Bridgewater Associates and Citadel. These appointments aim to enhance the company's strategic perspective.

AllianceBernstein L.P. (AB) reported a rise in preliminary assets under management to $643 billion in August 2020, up from $623 billion in July, marking a 3.2% increase driven by market appreciation and net inflows. Positive net flows were noted in Institutions and Retail, while Private Wealth saw outflows. Notably, the firm attracted $2.6 billion inflows to its low-fee Lifetime Income Strategies product, with no outflows related to AXA S.A.'s redemptions. Year-to-date, redemptions from AXA reached $11.1 billion of a projected $14 billion.

AllianceBernstein L.P. (NYSE: AB) announced that Ali Dibadj will become the Chief Financial Officer (CFO) in February 2021, in addition to his role as Head of Strategy. Dibadj joined AB in 2006 and has played a key role in the firm's strategic direction and financial management. He will succeed John Weisenseel, who is retiring in September 2021 after serving as CFO since 2012. Seth Bernstein, AB's President and CEO, expressed confidence in Dibadj's leadership to enhance the firm's growth and market positioning.

On August 11, 2020, AllianceBernstein L.P. (AB) reported a 3.8% increase in assets under management (AUM), rising from $600 billion in June to $623 billion in July 2020. This growth was attributed to market appreciation and positive net inflows from retail and institutional channels. However, the Private Wealth channel experienced outflows, including $2.2 billion from AXA S.A., contributing to year-to-date redemptions of $11.1 billion of the expected $14 billion in total redemptions.

AllianceBernstein (AB) reported its financial results for Q2 2020, showing net revenues of $871 million, a 1.6% increase from Q2 2019. Operating income rose to $210 million, up 14% year-over-year. The firm generated $4.6 billion in net inflows while managing $600 billion in total assets. Despite the success, AB faced $3.3 billion in total net outflows and low-fee AXA redemptions totaling $7.9 billion. Adjusted diluted net income per unit was $0.61, up 8.9% from the previous year. Looking forward, market volatility due to COVID-19 remains a concern.

AllianceBernstein announced the release of its Second Quarter 2020 financial results on July 23, 2020. A teleconference will follow at 8:00 am (EDT), featuring key executives including President Seth P. Bernstein and CFO John C. Weisenseel. Investors can join via webcast or telephone, with details available on AB's Investor Relations website. A replay will be accessible post-event. As of June 30, 2020, AllianceBernstein Holding owned about 35.5% of AllianceBernstein, while AXA Equitable Holdings held approximately 65.2% interest in the firm.