AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for May 2019. The company’s preliminary month-end AUM of $560 billion decreased 1.4% from the prior month. Market depreciation was partially offset by total net inflows.
At the end of May, AllianceBernstein’s Equity AUM declined 5.5% sequentially to $206 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) fell 1.5% to $65 billion. However, Fixed Income AUM rose 1.8% from April 2019 to $289 billion.
By channel, month-end Institutions AUM of $261 billion decreased slightly from the April 2019 level. Moreover, Retail AUM dipped 2.4% sequentially to $204 billion. Private Wealth AUM also declined 2.1% to $95 billion.
Decline in AUM will likely hurt AllianceBernstein’s financials to some extent. Over the past six months, the stock has rallied 9.6%,underperforming the industry’s rise of 13.9%.
AllianceBernstein currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $695 billion for May 2019, down 3.5% from $720.5 billion recorded as of Apr 30, 2019. Market declines and modest outflows led to this downside.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,159.3 billion for May 2019 increased 18.9% from the prior month. This growth was primarily driven by the acquisition of the OppenheimerFunds along with modest net long-term inflows and reinvested distributions. These were partly offset by unfavorable market returns, decline in money market AUM and non-management fee earning AUM outflows.
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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for May 2019. The company’s preliminary month-end AUM of $560 billion decreased 1.4% from the prior month. Market depreciation was partially offset by total net inflows.
At the end of May, AllianceBernstein’s Equity AUM declined 5.5% sequentially to $206 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) fell 1.5% to $65 billion. However, Fixed Income AUM rose 1.8% from April 2019 to $289 billion.
By channel, month-end Institutions AUM of $261 billion decreased slightly from the April 2019 level. Moreover, Retail AUM dipped 2.4% sequentially to $204 billion. Private Wealth AUM also declined 2.1% to $95 billion.
Decline in AUM will likely hurt AllianceBernstein’s financials to some extent. Over the past six months, the stock has rallied 9.6%,underperforming the industry’s rise of 13.9%.
AllianceBernstein currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $695 billion for May 2019, down 3.5% from $720.5 billion recorded as of Apr 30, 2019. Market declines and modest outflows led to this downside.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,159.3 billion for May 2019 increased 18.9% from the prior month. This growth was primarily driven by the acquisition of the OppenheimerFunds along with modest net long-term inflows and reinvested distributions. These were partly offset by unfavorable market returns, decline in money market AUM and non-management fee earning AUM outflows.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
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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