AllianceBernstein Holding L.P. (NYSE:AB) Receives Consensus Rating of “Hold” from Brokerages
by Danessa Lincoln · The Markets DailyAllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $42.1667.
A number of research analysts have recently issued reports on AB shares. Evercore lifted their target price on shares of AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. TD Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Sanford C. Bernstein reiterated a “neutral” rating on shares of AllianceBernstein in a research report on Monday, February 9th. Barclays boosted their price objective on AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Zacks Research cut AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd.
Get Our Latest Stock Report on AB
AllianceBernstein Price Performance
Shares of NYSE:AB opened at $35.68 on Monday. The business’s fifty day moving average price is $39.52 and its two-hundred day moving average price is $39.39. AllianceBernstein has a fifty-two week low of $32.28 and a fifty-two week high of $44.11. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.87.
AllianceBernstein (NYSE:AB – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $957.31 million during the quarter, compared to analysts’ expectations of $956.45 million. AllianceBernstein had a return on equity of 21.17% and a net margin of 6.62%.The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $1.05 earnings per share. Research analysts expect that AllianceBernstein will post 3.58 EPS for the current fiscal year.
AllianceBernstein Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were paid a $0.96 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.86. This represents a $3.84 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend was Friday, February 20th. AllianceBernstein’s payout ratio is presently 128.00%.
Institutional Trading of AllianceBernstein
Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in AllianceBernstein by 2.5% in the 4th quarter. NewEdge Advisors LLC now owns 10,849 shares of the asset manager’s stock worth $417,000 after purchasing an additional 264 shares during the last quarter. Fortis Capital Advisors LLC boosted its position in AllianceBernstein by 3.6% in the 4th quarter. Fortis Capital Advisors LLC now owns 7,836 shares of the asset manager’s stock valued at $302,000 after buying an additional 272 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of AllianceBernstein by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,841 shares of the asset manager’s stock valued at $1,255,000 after buying an additional 273 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of AllianceBernstein by 2.2% during the third quarter. Stratos Wealth Partners LTD. now owns 13,190 shares of the asset manager’s stock worth $504,000 after acquiring an additional 289 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of AllianceBernstein by 4.5% during the third quarter. Allworth Financial LP now owns 6,915 shares of the asset manager’s stock valued at $264,000 after acquiring an additional 300 shares during the period. 19.25% of the stock is owned by institutional investors.
About AllianceBernstein
AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.
The firm’s roots date back to 1967 with the founding of Sanford C.