AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Friday, November 6th will be given a dividend of $0.88 per share by the asset manager on Thursday, November 19th. This represents a $3.52 annualized dividend and a yield of 10.1%. The ex-dividend date is Friday, November 6th. This is a 7.3% increase from AllianceBernstein’s previous quarterly dividend of $0.82.
AllianceBernstein has a payout ratio of 92.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect AllianceBernstein to earn $3.78 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 86.8%.
AllianceBernstein Trading Down 1.6%
AllianceBernstein stock opened at $34.71 on Thursday. The stock has a 50-day moving average price of $35.69 and a 200 day moving average price of $37.55. The stock has a market cap of $3.23 billion, a PE ratio of 10.27, a P/E/G ratio of 1.17 and a beta of 0.79. AllianceBernstein has a 52 week low of $33.90 and a 52 week high of $44.11.
AllianceBernstein (NYSE:AB – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The asset manager reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. AllianceBernstein had a net margin of 6.60% and a return on equity of 25.94%. The business had revenue of $904.25 million for the quarter, compared to the consensus estimate of $913.82 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that AllianceBernstein will post 3.45 EPS for the current year.
About AllianceBernstein
AllianceBernstein Holding L.P. (NYSE:AB) is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.
AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.
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