Company enters second half of 2026 with nearly $26 bln institutional pipeline AUM
AllianceBernstein sees continued expansion in private markets, insurance, retirement, wealth, active ETFs and SMAs
Company says the macroeconomic and geopolitical environment remains uncertain
Results drivers
Fixed income and alternatives inflows - Co said net inflows were led by a $9 bln passive fixed income mandate and $4 bln in alternatives, offsetting outflows in active equity and taxable fixed income
Retail sales momentum - Record $31 bln in retail gross sales and $0.9 bln net inflows reflected demand for tax-efficient income products, per CEO Seth Bernstein
Active equity and taxable fixed income outflows - Outflows of $11 bln and $5 bln, respectively, were driven by retail redemptions in APAC region
The current average analyst rating on the shares is hold and the breakdown of recommendations is 2 strong buy or buy, 5 hold and no sell or strong sell
The average consensus recommendation for the investment management & fund operators peer group is buy
Wall Street's median 12-month price target for AllianceBernstein Holding LP is $39.00, about 2.9% above its July 27 closing price of $37.90
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Quarterly results and assets under management
U.S. investment manager's Q2 revenue rose 7.5% yr/yr
Adjusted EPS for Q2 missed analyst expectations
Assets under management hit a record $905.5 bln, up 9% yr/yr, driven by net inflows
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