AllianceBernstein Holding L.P. (NYSE:AB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) has received an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.40.

A number of research firms have recently commented on AB. Evercore ISI lifted their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays lowered their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th.

Check Out Our Latest Report on AllianceBernstein

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AB. Rothschild Investment LLC purchased a new stake in shares of AllianceBernstein during the second quarter worth $253,000. Essex Financial Services Inc. bought a new stake in shares of AllianceBernstein during the 2nd quarter valued at $236,000. Larson Financial Group LLC purchased a new stake in AllianceBernstein during the 2nd quarter worth about $51,000. First Foundation Advisors boosted its stake in AllianceBernstein by 14.7% in the 2nd quarter. First Foundation Advisors now owns 58,450 shares of the asset manager’s stock worth $1,975,000 after purchasing an additional 7,500 shares during the period. Finally, American Century Companies Inc. increased its position in shares of AllianceBernstein by 8.9% during the second quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock valued at $97,090,000 after buying an additional 234,253 shares during the period. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Stock Up 1.8 %

AllianceBernstein stock opened at $37.71 on Wednesday. The company’s 50 day moving average price is $36.54 and its two-hundred day moving average price is $35.26. The stock has a market cap of $4.34 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.83 and a beta of 1.20. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.17%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is 88.25%.

About AllianceBernstein

(Get Free Report

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.

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