Alliancebernstein Hldg L P Stock Price, News & Analysis

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.

AllianceBernstein (AB) and AllianceBernstein Holding announced that Ali Dibadj, Head of Finance and Strategy, will attend the 2020 Bank of America Securities Future of Financials Conference on November 9 at 4:10 p.m. ET in New York. A live audio webcast will be available on AB's website, with a replay afterward. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein, while AXA Equitable Holdings (EQH) held about 65.3% economic interest.

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.