Back to top

Image: Bigstock

AllianceBernstein's (AB) February AUM Up on Volatile Markets

Read MoreHide Full Article

AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for February 2021. The company’s preliminary month-end AUM of $688 billion grew marginally from the prior month. Market appreciation and total firm wide net inflows primarily drove the rise.

At the end of February, AllianceBernstein’s Equity AUM increased 2.8% sequentially to $290 billion. Also, Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was up 2.4% to $84 billion. However, Fixed Income AUM decreased 1.6% from January 2021 to $314 billion.

In terms of channel, month-end Institutions AUM of $311 billion was down modestly from January. On the other hand, retail AUM increased 1.1% on a sequential basis to $269 billion and Private Wealth AUM rose 2.9% to $108 billion.

Volatile markets support AUM performance. Also, AllianceBernstein’s global reach and solid assets balance are expected to boost top-line growth.

Shares of AllianceBernstein have rallied 39% over the past six months, outperforming the industry's growth of 32.9%.

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 Asset Managers

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $83.1 billion as of Feb 28, 2021, which reflected an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.

Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.5 trillion for February 2021. Results display a slight rise from the $1.49 trillion recorded as of Jan 31, 2021. The increase largely reflected the positive impact of markets and long-term net inflows, partly offset by cash management net outflows.

Invesco (IVZ - Free Report) announced AUM for February 2021. The company’s preliminary month-end AUM of $1,391.5 billion represents an 1.8% increase from the prior month. The growth was driven by inflows, upbeat markets and favorable foreign exchange values.

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 >>