JHVEPhoto Introduction AllianceBernstein (NYSE:AB) has underperformed the iShares U.S. Financials ETF (IYF) so far in 2024, delivering a circa 13% total return against the almost 20% gain for the benchmark ETF: AB vs IYF in 2024 (Seeking Alpha) This has resulted in the company trading at an adjusted P/E multiple discount relative to the broader US financials sector, as well as recent M&A transactions. Also taking into account the firm's robust operating results in terms of AUM growth and benchmark outperfor ...

NASHVILLE, Tenn., Aug. 23, 2024 /PRNewswire/ -- AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that its 2023 Schedule K-3, reflecting items of international tax relevance, is now available for download online. AB unitholders requiring this information may access their Schedules K-3 at www.taxpackagesupport.com/ab.A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership uni ...

AllianceBernstein Holding L.P. (AB) has announced assets under management (AUM) for July 2024. The company’s preliminary month-end AUM of $777 billion reflects a roughly 1% increase from the end of June 2024.The increase was primarily driven by market appreciation. This was partly offset by net outflows in the Institutions and Private Wealth channel. AB recorded net inflows in the Retail channel.At the end of July, AllianceBernstein’s Equity AUM rose marginally on a sequential basis to $331 billion. Alterna ...

公司资产增长情况 - 公司宣布截至2024年7月，初步资产管理规模（AUM）从6月底的7700亿美元增加到7770亿美元，增长了1%。这一增长主要由市场升值驱动，部分被净流出所抵消[1] 资产分类情况 - 按渠道划分，零售渠道实现了稳定的净流入，而机构和私人财富渠道则出现了净流出[1] - 具体资产分类如下： - **股票**： - 主动管理型：560亿美元（机构），1540亿美元（零售），540亿美元（私人财富），总计2640亿美元[4] - 被动型：240亿美元（机构），380亿美元（零售），50亿美元（私人财富），总计670亿美元[4] - 股票总计：800亿美元（机构），1920亿美元（零售），590亿美元（私人财富），总计3310亿美元[4] - **固定收益**： - 应税：1160亿美元（机构），710亿美元（零售），190亿美元（私人财富），总计2060亿美元[5] - 免税：20亿美元（机构），370亿美元（零售），290亿美元（私人财富），总计680亿美元[5] - 被动型：110亿美元（零售），总计110亿美元[5] - 固定收益总计：1180亿美元（机构），1190亿美元（零售），480亿美元（私人财富），总计2850亿美元[5] - **另类投资/多资产解决方案**：1280亿美元（机构），80亿美元（零售），250亿美元（私人财富），总计1610亿美元[6] - **总资产**：3260亿美元（机构），3190亿美元（零售），1320亿美元（私人财富），总计7770亿美元[6] 资产重新分类 - 2024年7月31日，120亿美元的私人配售资产管理规模从应税固定收益重新分类为另类投资/多资产，这一调整影响了资产的分类和总计[7]

Exploring the market for companies that could yield massive returns in a few years can be daunting. With high flyers soaring left and right, sticking to your gut and playing the long game takes discipline. However, with diligence and clarity, identifying stocks with the potential to 10x your investment is easier. So, what do you look for in potential 10x stocks? Experts usually watch out for fair valuations, improving financials and favorable long-term prospects. Today, I screened the market for companies d ...

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AllianceBernstein (AB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.AllianceBernstein is one of 861 individual stocks in the Finance sector. Collectiv ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase ...

Shares of AllianceBernstein (AB) have been strong performers lately, with the stock up 3.6% over the past month. The stock hit a new 52-week high of $35.5 in the previous session. AllianceBernstein has gained 11.8% since the start of the year compared to the 12.9% move for the Zacks Finance sector and the 15.8% return for the Zacks Financial - Investment Management industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings ...

财务数据和关键指标变化 - 第二季度调整后营业收入为8.26亿美元,与上年同期持平,但按同口径计算增长13% [32] - 第二季度调整后营业利润为2.54亿美元,同比增长15%,调整后营业利润率为30.8%,同比提升380个基点 [32][33][34] - 基本费用同比增长9%,主要由于平均资产管理规模增长11% [33] - 业绩费收入为4200万美元,同比增加2700万美元,主要来自于美国精选股票多头、空头和私募信贷 [34] - 总运营费用同比下降5%,主要由于Bernstein Research Services业务剥离 [35][36][37][38][39] 各条业务线数据和关键指标变化 - 零售业务第二季度毛销售额为232亿美元,同比增长41%,净流入28亿美元,年化有机增长率为4% [17][20] - 机构业务第二季度毛销售额为33亿美元,净流出18亿美元,主要由于主动股票赎回抵消了保险带动的固定收益增长 [22] - 私人财富管理业务第二季度毛销售额为54亿美元,同比增长20%,由于季节性税收相关赎回转为净流出1亿美元 [23][24] - 私募市场业务资产管理规模增至640亿美元,同比增长5% [22][24] 各个市场数据和关键指标变化 - 日本市场零售业务保持强劲,尤其是系统化固定收益策略获得日本主要养老金和保险客户的大额资金 [89][90][91] - 中国市场尽管当地市场环境充满挑战,但公司在中国的业务开局良好 [10] - 离岸市场需求持续强劲,是公司固定收益业务增长的重要来源之一 [51][52][53] 公司战略和发展方向及行业竞争 - 公司正在积极发展私募信贷和房地产等私募市场业务,资产管理规模达到640亿美元 [22][24][98][99][100] - 公司正在加大ETF业务的布局,已推出15只ETF产品,资产管理规模达46亿美元 [21][78][79][80][81] - 公司正在加强保险资产管理业务,并聘任Geoff Cornell担任保险业务首席投资官 [44][98] - 公司正在执行多年的营业利润率提升计划,第二季度营业利润率达到30.8%,同比提升380个基点 [9][45][46][55][56] 管理层对经营环境和未来前景的评论 - 管理层对固定收益业务前景乐观,预计当美联储开始降息时,将带来大量资金流入固定收益产品 [49][50][51][52][53][60][61] - 管理层对主动股票业务前景持谨慎态度,尽管零售端表现良好,但机构端仍面临一些挑战 [69][70][71][72] - 管理层对私人财富管理业务前景乐观,预计将实现第四consecutive年的有机增长 [23][114][115] 问答环节重要的提问和回答 问题1 **Bill Katz 提问** 询问固定收益业务流入资金的来源,是否主要来自于货币市场基金等流动性 [49][50][51] **Seth Bernstein 和 Onur Erzan 回答** 资金流入来源包括货币市场基金、养老金的再平衡和去风险以及离岸市场需求等 [50][51][52][53][60][61] 问题2 **Craig Siegenthaler 提问** 询问公司在超高净值客户业务中的现金管理策略,以及是否会调整现金管理策略 [63][64][65][66][67] **Onur Erzan 回答** 公司现金管理策略非常有竞争力,现金收益率在4.5%-5%之间,公司不太担心近期同业调整现金管理策略的影响 [65][66][67] 问题3 **Alex Blostein 提问** 询问公司在私募信贷和固定收益领域的发展情况,是否还需要进一步的并购或投资 [94][95][96][97][98][99][100] **Seth Bernstein 和 Onur Erzan 回答** 公司在保险资产管理、资产抵押贷款等领域已经建立了较为完整的平台,未来主要是继续完善和拓展现有业务 [98][99][100]