Shares of AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.50.
A number of equities analysts recently commented on the company. Zacks Research upgraded AllianceBernstein from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of AllianceBernstein in a research note on Friday, July 10th. Evercore set a $39.00 price target on shares of AllianceBernstein in a research report on Friday, July 10th. TD Cowen raised their price objective on shares of AllianceBernstein from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings cut shares of AllianceBernstein from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd.
View Our Latest Stock Analysis on AllianceBernstein
AllianceBernstein Stock Down 1.5%
AllianceBernstein (NYSE:AB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $887.55 million during the quarter, compared to analyst estimates of $907.67 million. AllianceBernstein had a net margin of 6.60% and a return on equity of 25.94%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. Analysts anticipate that AllianceBernstein will post 3.47 EPS for the current fiscal year.
AllianceBernstein Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Wednesday, August 12th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend was Wednesday, August 12th. AllianceBernstein’s dividend payout ratio (DPR) is currently 97.04%.
Insider Activity at AllianceBernstein
In other AllianceBernstein news, Director Charles Stonehill sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $37.17, for a total value of $185,850.00. Following the completion of the transaction, the director owned 24,573 shares in the company, valued at $913,378.41. The trade was a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in AllianceBernstein in the 2nd quarter valued at about $1,908,000. Sequoia Financial Advisors LLC boosted its stake in shares of AllianceBernstein by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,293 shares of the asset manager’s stock valued at $715,000 after buying an additional 829 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of AllianceBernstein during the second quarter worth about $420,000. NewEdge Advisors LLC grew its position in shares of AllianceBernstein by 37.2% during the second quarter. NewEdge Advisors LLC now owns 12,297 shares of the asset manager’s stock worth $433,000 after buying an additional 3,331 shares in the last quarter. Finally, Corient Private Wealth LP increased its stake in shares of AllianceBernstein by 26.3% during the second quarter. Corient Private Wealth LP now owns 56,019 shares of the asset manager’s stock worth $1,973,000 after buying an additional 11,676 shares during the period. 19.25% of the stock is owned by institutional investors and hedge funds.
About AllianceBernstein
AllianceBernstein Holding L.P. (NYSE: AB) is a global investment management company that provides investment products, research and related services to institutional investors, financial advisers, individual investors and private-wealth clients. Its offerings span equities, fixed income, multi-asset strategies, alternatives and other portfolio solutions.
The company serves clients through institutional and retail channels, including pension plans, governments, foundations, insurance companies, financial intermediaries and high-net-worth individuals.
Recommended Stories
- Five stocks we like better than AllianceBernstein
- 3 Luxury Consumer Brands to Watch in a Beaten-Down Sector
- Jackson’s Record Quarter Powers the Bull Case
- Holiday Shopping Is Almost Here—And Target May Be Ready to Win Big
- AI Panic Hit Tech Stocks—But NVIDIA’s Growth Engine Is Intact
Receive News & Ratings for AllianceBernstein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein and related companies with MarketBeat.com's FREE daily email newsletter.
