AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $643 billion increased 3.2% from the prior month. Market appreciation and total firm-wide net inflows primarily drove this rise.
The reported monthly AUM also reflects $2.6 billion in inflows to its low-fee retirement related Lifetime Income Strategies (LIS).
At the end of August, AllianceBernstein’s Equity AUM grew 5.8% sequentially to $255 billion. Also, fixed Income AUM increased marginally from July 2020 to $313 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 7.1% from the prior month to $75 billion.
In terms of channel, month-end Institutions AUM of $297 billion was up 3.5% from July. Retail AUM increased 3.3% on a sequential basis to $247 billion and Private Wealth AUM grew 2.1% to $99 billion.
Continued improvement in AUM is expected to support AllianceBernstein’s top line. In the past three months, shares of the company have gained 7.9% compared with the industry's rally of 2.7%.
AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Virtus Investment Partners, Inc.’s (VRTS - Free Report) preliminary August-end AUM of $116.8 billion represents a 3.6% increase from the previous month.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report August AUM in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $643 billion increased 3.2% from the prior month. Market appreciation and total firm-wide net inflows primarily drove this rise.
The reported monthly AUM also reflects $2.6 billion in inflows to its low-fee retirement related Lifetime Income Strategies (LIS).
At the end of August, AllianceBernstein’s Equity AUM grew 5.8% sequentially to $255 billion. Also, fixed Income AUM increased marginally from July 2020 to $313 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 7.1% from the prior month to $75 billion.
In terms of channel, month-end Institutions AUM of $297 billion was up 3.5% from July. Retail AUM increased 3.3% on a sequential basis to $247 billion and Private Wealth AUM grew 2.1% to $99 billion.
Continued improvement in AUM is expected to support AllianceBernstein’s top line. In the past three months, shares of the company have gained 7.9% compared with the industry's rally of 2.7%.
AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Virtus Investment Partners, Inc.’s (VRTS - Free Report) preliminary August-end AUM of $116.8 billion represents a 3.6% increase from the previous month.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report August AUM in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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