AllianceBernstein Holding L.P. (NYSE:AB) Receives $41.50 Average PT from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.50.

A number of research analysts have recently commented on the company. Cowen restated a “hold” rating on shares of AllianceBernstein in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of AllianceBernstein in a research report on Wednesday, October 8th. Barclays reduced their target price on shares of AllianceBernstein from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Bank of America lifted their price target on shares of AllianceBernstein from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI dropped their price objective on shares of AllianceBernstein from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday, September 5th.

Institutional Investors Weigh In On AllianceBernstein

Several hedge funds have recently added to or reduced their stakes in AB. SVB Wealth LLC purchased a new stake in AllianceBernstein during the 1st quarter valued at about $32,000. Costello Asset Management INC purchased a new stake in shares of AllianceBernstein during the first quarter valued at approximately $73,000. Zions Bancorporation National Association UT purchased a new stake in shares of AllianceBernstein during the first quarter valued at approximately $77,000. Trust Co. of Vermont bought a new stake in shares of AllianceBernstein during the third quarter valued at approximately $115,000. Finally, CWM LLC raised its holdings in AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock worth $116,000 after acquiring an additional 2,957 shares during the last quarter. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Trading Down 2.2%

Shares of NYSE AB opened at $38.56 on Tuesday. The firm has a fifty day simple moving average of $38.98 and a two-hundred day simple moving average of $39.88. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $43.30. The firm has a market capitalization of $3.51 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Thursday, October 23rd. The asset manager reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01. AllianceBernstein had a net margin of 7.09% and a return on equity of 20.56%. The company had revenue of $884.67 million for the quarter, compared to analysts’ expectations of $900.69 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. AllianceBernstein’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that AllianceBernstein will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 3rd were given a $0.86 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.9%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.76. AllianceBernstein’s payout ratio is presently 113.16%.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.