Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) Target Price at $40.33

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

Several research analysts have issued reports on the company. Zacks Research cut AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AllianceBernstein in a report on Friday. Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a report on Friday. Evercore ISI dropped their price target on AllianceBernstein from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. Finally, Sanford C. Bernstein set a $43.00 price target on AllianceBernstein in a report on Friday.

Institutional Trading of AllianceBernstein

Large investors have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in AllianceBernstein during the 1st quarter valued at $32,000. Mountain Hill Investment Partners Corp. acquired a new stake in AllianceBernstein during the 1st quarter valued at $38,000. Costello Asset Management INC acquired a new stake in AllianceBernstein during the 1st quarter valued at $73,000. Zions Bancorporation National Association UT acquired a new stake in AllianceBernstein during the 1st quarter valued at $77,000. Finally, Trust Co. of Vermont acquired a new stake in AllianceBernstein during the 3rd quarter valued at $115,000. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein Price Performance

Shares of NYSE:AB opened at $39.56 on Friday. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $43.30. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.29 and a beta of 0.82. The stock’s 50 day moving average price is $38.90 and its 200 day moving average price is $39.66.

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

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 3rd will be issued a $0.86 dividend. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.76. This represents a $3.44 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Monday, November 3rd. AllianceBernstein’s dividend payout ratio is currently 100.00%.

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.