Alliancebernstein Hldg L P - AB STOCK NEWS

AllianceBernstein (AB) reported strong financial results for Q4 and full-year 2024. The company achieved Q4 GAAP diluted net income of $0.94 per unit and adjusted diluted net income of $1.05 per unit. For the full year, AB recorded net revenues of $4.48 billion, up 7.7% from 2023, with operating income increasing 37.5% to $1.12 billion.

The firm's assets under management (AUM) reached $792.2 billion, representing a 9.2% increase from 2023. Despite Q4 outflows, AB's active platform registered $4.2 billion net inflows for 2024, with active fixed income flows reaching a record $24.5 billion. The retail channel grew 5% organically, while institutional net outflows remained concentrated in active equities.

Operating margins expanded significantly, with adjusted operating margin increasing 410 basis points to 32.3%. The company announced a cash distribution of $1.05 per unit, payable on March 13, 2025.

AllianceBernstein (NYSE: AB) has announced it will release its Fourth Quarter 2024 financial and operating results before market opens on Thursday, February 6, 2025. The company will hold a teleconference at 10:00 am (CT) to discuss the results.

The conference call will be led by Seth Bernstein (President and CEO), Jackie Marks (CFO), and Onur Erzan (Head of Global Client Group and Private Wealth). Investors can access the call via webcast through AB's Investor Relations website or by telephone using the conference ID# 6072615.

A presentation will be available on the company's Investor Relations website after the release of Q4 2024 results, and a webcast replay will be accessible approximately one hour after the call concludes.

AllianceBernstein (AB) reported a decrease in assets under management (AUM) to $792 billion in December 2024, down from $813 billion in November, representing a 2.6% decline. The decrease was attributed to market depreciation and net outflows across all three channels: Institutions, Retail, and Private Wealth.

For Q4 2024, preliminary firmwide net outflows totaled $5.0 billion. The AUM breakdown shows: Equity at $332 billion (Active: $264B, Passive: $68B), Fixed Income at $296 billion (Taxable: $210B, Tax-Exempt: $76B, Passive: $10B), and Alternatives/Multi-Asset Solutions at $164 billion.

AllianceBernstein (AB) reported an increase in assets under management (AUM) to $813 billion in November 2024, up 2.5% from $793 billion in October 2024. The growth was primarily driven by market appreciation, though partially offset by net outflows. While Retail and Private Wealth channels experienced net inflows, these were outweighed by Institutional net outflows.

The AUM breakdown shows: Equity at $343 billion ($272B actively managed, $71B passive), Fixed Income at $303 billion ($215B taxable, $77B tax-exempt, $11B passive), and Alternatives/Multi-Asset Solutions at $167 billion. By channel, assets were distributed across Institutions ($332B), Private Wealth ($139B), and Retail ($342B).

AllianceBernstein (NYSE: AB) has expanded its ETF suite with the launch of two new active buffer ETFs: AB International Buffer ETF (BUFI) and AB Moderate Buffer ETF (BUFM) on the Nasdaq. These actively managed ETFs aim to provide moderate capital appreciation while offering potential downside protection against market declines.

The launch follows the success of AB's first buffer ETF (BUFC) and responds to increasing client demand for ETF strategies. Susquehanna International Group serves as the Lead Market Maker. AB's ETF platform has now reached $5 billion in active ETF AUM and includes 17 funds. The investment teams bring 26 years of combined experience in managing option strategies.

AllianceBernstein (NYSE: AB) has announced that President and CEO Seth Bernstein will participate in the Goldman Sachs 2024 US Financial Services Conference. The session is scheduled for Tuesday, December 10, 2024, beginning at 10:20 a.m. (CT). A live audio webcast will be accessible through AB's website in the Investor & Media Relations section, with a replay available shortly after the event.

AllianceBernstein (AB) has launched the AB Tax Advantaged Balanced Direct Index portfolio, a new separately managed account combining equities and municipal bonds. The platform offers automated tax loss harvesting across stocks and bonds, along with AB Intelligent Rebalancing to reduce tax costs. The company manages $66B in municipals and $5B in equity direct indexing assets.

AB also introduced two additional products: AB Tax Advantaged Equity Direct Index and AB Tax Advantaged Strategic Research Balanced with Municipals. These solutions aim to enhance after-tax returns through integrated technology and customizable portfolios across growth, balanced, and income profiles.

AllianceBernstein (AB) announced its expansion in the insurance business through a partnership with Reinsurance Group of America (RGA). AB has been selected as one of the lead investors in Ruby Reinsurance Company (Ruby Re), a reinsurance sidecar vehicle sponsored by RGA focusing on the U.S. asset-intensive market. As part of the transaction, AB will manage private alternative assets for RGA's general account and appoint a member to Ruby Re's Board of Directors. This partnership marks a significant milestone in AB's goal of leadership within insurance asset management and participation in the growing asset-intensive reinsurance market.

RGA's Ruby Reinsurance Company (Ruby Re) has successfully completed its second funding round, reaching $480 million in total capital raised, approaching the upper limit of its $400-500 million target range. The second round attracted investments from AllianceBernstein L.P. (AB), EnTrust Global, and Enstar Group, complementing initial investments from Golub Capital, Hudson Structured Capital Management , and Sammons Financial Group. AB will appoint a member to Ruby Re's Board of Directors. This funding positions Ruby Re to expand its asset-intensive reinsurance capabilities and capacity.