AllianceBernstein Holding L.P. (NYSE:AB) Receives $39.44 Average Price Target from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has received an average rating of “Buy” from the four ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $39.44.

Several analysts have commented on the stock. Evercore ISI reiterated a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research report on Tuesday, March 12th. TD Cowen initiated coverage on shares of AllianceBernstein in a report on Thursday, January 4th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, TheStreet raised shares of AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $34.72 on Monday. The firm has a fifty day moving average of $33.64 and a two-hundred day moving average of $31.40. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.81 and a beta of 1.25. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $37.00.

AllianceBernstein (NYSE:AB) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $857.85 million. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, research analysts forecast that AllianceBernstein will post 2.98 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a $0.77 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.65. This represents a $3.08 dividend on an annualized basis and a yield of 8.87%. AllianceBernstein’s dividend payout ratio is presently 132.19%.

Hedge Funds Weigh In On AllianceBernstein

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Herold Advisors Inc. boosted its stake in shares of AllianceBernstein by 2.0% during the 4th quarter. Herold Advisors Inc. now owns 15,500 shares of the asset manager’s stock worth $481,000 after buying an additional 300 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of AllianceBernstein by 1.7% during the 4th quarter. Advisory Services Network LLC now owns 18,975 shares of the asset manager’s stock worth $589,000 after buying an additional 315 shares during the last quarter. Karpas Strategies LLC boosted its stake in shares of AllianceBernstein by 2.2% during the 4th quarter. Karpas Strategies LLC now owns 18,110 shares of the asset manager’s stock worth $562,000 after buying an additional 395 shares during the last quarter. Chilton Capital Management LLC boosted its stake in shares of AllianceBernstein by 1.3% during the 4th quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager’s stock worth $1,072,000 after buying an additional 448 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of AllianceBernstein by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 30,998 shares of the asset manager’s stock valued at $1,065,000 after purchasing an additional 488 shares during the period. 19.25% of the stock is owned by institutional investors and hedge funds.

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.