Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) Price Target at $40.25

AllianceBernstein Holding L.P. (NYSE:AB) has received an average recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $40.25.

AB has been the subject of several analyst reports. TD Cowen cut their price target on AllianceBernstein from $39.50 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Evercore restated an “outperform” rating and set a $42.00 price target on shares of AllianceBernstein in a research note on Wednesday, April 29th. Barclays cut their price target on AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Zacks Research cut AllianceBernstein from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein restated a “buy” rating on shares of AllianceBernstein in a research note on Wednesday, April 29th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in AllianceBernstein during the fourth quarter worth about $28,000. Ascentis Independent Advisors acquired a new stake in shares of AllianceBernstein in the first quarter valued at about $30,000. NFSG Corp lifted its stake in shares of AllianceBernstein by 800.0% in the first quarter. NFSG Corp now owns 900 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 800 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $35,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at about $36,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Price Performance

Shares of AB opened at $38.10 on Tuesday. AllianceBernstein has a 1-year low of $35.59 and a 1-year high of $44.11. The firm has a fifty day moving average price of $38.30 and a 200 day moving average price of $39.42. The stock has a market cap of $3.56 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). AllianceBernstein had a net margin of 6.69% and a return on equity of 23.11%. The firm had revenue of $871.14 million during the quarter, compared to analysts’ expectations of $894.70 million. During the same quarter in the prior year, the firm posted $0.80 EPS. AllianceBernstein’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that AllianceBernstein will post 3.46 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Friday, May 8th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Friday, May 8th. AllianceBernstein’s dividend payout ratio is currently 102.15%.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.