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AllianceBernstein February AUM Rises on Market Appreciation

Zacks

AllianceBernstein Holding L.P. AB has announced its assets under management (AUM) for February 2019. The company’s preliminary month-end AUM of $547 billion increased 1.7% from the prior month.

Favorable market returns and total net inflows were the primary reasons for the rise in total AUM.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 3.4% sequentially to $210 billion. Further, Fixed Income AUM increased nearly 1% from January 2019to $276 billion. Others AUM (including certain multi-asset services and solutions and certain alternative investments) remained stable at $61 billion.

At the end of February 2019, by channel, Institutions AUM of $253 billion was on par with the prior-month level. Moreover, Retail AUM increased 3.6% sequentially to $199 billion. Private Wealth AUM also rose 2.2% to $95 billion.

Improvement in AUM and growth in revenues are expected to support AllianceBernstein’s financials. So far this year, the stock has rallied 5.6%.

AllianceBernstein currently has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other Asset Managers

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $714.2 billion for February. Results reflect a rise of5.3% from $678.3 billion recorded as of Jan 31. The increase was primarily driven by to market appreciation and the acquisition of Benefit Street Partners L.L.C.

Cohen & Steers CNS reported preliminary AUM of $60.8 billion as of Feb 28, 2019, up 1.3% from the prior month. Market appreciation of $624 million and net inflows of $350 million supported AUM growth.

Invesco’s IVZ preliminary month-end AUM was $945.7 billion as of Feb 28, 2019, which increased 1.6% from the prior month. Favorable market returns, foreign exchange and higher money market AUM were the primary reasons behind the rise.

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