AllianceBernstein Holding L.P. (NYSE:AB) Declares $0.73 Quarterly Dividend

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.73 per share by the asset manager on Thursday, May 23rd. This represents a $2.92 annualized dividend and a dividend yield of 8.70%. The ex-dividend date of this dividend is Friday, May 3rd.

AllianceBernstein has decreased its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend every year for the last 1 years. AllianceBernstein has a dividend payout ratio of 86.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect AllianceBernstein to earn $3.56 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 86.5%.

AllianceBernstein Price Performance

AllianceBernstein stock traded down $0.15 during mid-day trading on Friday, hitting $33.56. 609,313 shares of the company’s stock traded hands, compared to its average volume of 305,441. The firm has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $31.67. AllianceBernstein has a fifty-two week low of $25.83 and a fifty-two week high of $35.84. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.65 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. AllianceBernstein had a return on equity of 15.34% and a net margin of 6.47%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts anticipate that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AB. TD Cowen restated a “buy” rating and issued a $40.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 9th. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $38.00 price objective on shares of AllianceBernstein in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.44.

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.