AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $36.50.
AB has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a research report on Friday, October 30th. TD Cowen decreased their price target on AllianceBernstein from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, October 28th. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $35.00 price target on shares of AllianceBernstein in a research note on Wednesday, October 28th. Finally, Barclays cut their price objective on shares of AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th.
Read Our Latest Analysis on AB
AllianceBernstein Price Performance
AB stock opened at $34.07 on Tuesday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.30 and a beta of 0.74. The business’s fifty day moving average price is $35.49 and its two-hundred day moving average price is $37.41. AllianceBernstein has a fifty-two week low of $33.75 and a fifty-two week high of $44.11.
AllianceBernstein (NYSE:AB – Get Free Report) last posted its earnings results on Tuesday, October 27th. The asset manager reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. AllianceBernstein had a return on equity of 25.97% and a net margin of 6.47%. The company had revenue of $904.25 million during the quarter, compared to the consensus estimate of $913.82 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that AllianceBernstein will post 3.45 EPS for the current year.
AllianceBernstein Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be given a dividend of $0.88 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 10.3%. The ex-dividend date is Friday, November 6th. AllianceBernstein’s dividend payout ratio (DPR) is presently 97.04%.
Institutional Investors Weigh In On AllianceBernstein
A number of large investors have recently modified their holdings of AB. Moors & Cabot Inc. lifted its holdings in shares of AllianceBernstein by 23.5% in the third quarter. Moors & Cabot Inc. now owns 63,839 shares of the asset manager’s stock worth $2,227,000 after acquiring an additional 12,133 shares during the last quarter. Allworth Financial LP grew its position in AllianceBernstein by 12.2% during the 3rd quarter. Allworth Financial LP now owns 7,369 shares of the asset manager’s stock worth $260,000 after acquiring an additional 804 shares during the last quarter. CENTRAL TRUST Co increased its holdings in AllianceBernstein by 25.0% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the asset manager’s stock worth $87,000 after purchasing an additional 500 shares in the last quarter. Lido Advisors LLC increased its holdings in AllianceBernstein by 184.7% in the 3rd quarter. Lido Advisors LLC now owns 189,161 shares of the asset manager’s stock worth $6,598,000 after purchasing an additional 122,727 shares in the last quarter. Finally, Verus Capital Partners LLC acquired a new position in AllianceBernstein in the 3rd quarter worth about $273,000. Institutional investors and hedge funds own 19.25% of the company’s stock.
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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