Q1 2022 EPS Estimates for AllianceBernstein Holding L.P. (NYSE:AB) Decreased by Analyst

AllianceBernstein Holding L.P. (NYSE:ABGet Rating) – Investment analysts at Jefferies Financial Group lowered their Q1 2022 EPS estimates for shares of AllianceBernstein in a research note issued on Monday, April 11th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.85. Jefferies Financial Group also issued estimates for AllianceBernstein’s FY2022 earnings at $3.43 EPS, Q1 2023 earnings at $0.85 EPS, Q2 2023 earnings at $0.87 EPS, Q3 2023 earnings at $0.90 EPS, Q4 2023 earnings at $1.05 EPS and FY2023 earnings at $3.67 EPS.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded AllianceBernstein from a “hold” rating to a “sell” rating in a research note on Wednesday, March 9th. Citigroup boosted their price target on AllianceBernstein from $62.00 to $64.50 and gave the stock a “buy” rating in a research report on Wednesday, January 12th. Finally, StockNews.com assumed coverage on AllianceBernstein in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.38.

AllianceBernstein stock opened at $47.28 on Tuesday. AllianceBernstein has a one year low of $39.57 and a one year high of $57.54. The business’s fifty day moving average is $45.85 and its 200 day moving average is $49.36. The stock has a market capitalization of $4.69 billion, a PE ratio of 12.19 and a beta of 1.37.

AllianceBernstein (NYSE:ABGet Rating) last released its earnings results on Friday, February 11th. The asset manager reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.29. The company had revenue of $1.26 billion during the quarter. AllianceBernstein had a return on equity of 24.18% and a net margin of 8.69%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS.

A number of institutional investors and hedge funds have recently modified their holdings of AB. ARGI Investment Services LLC boosted its position in AllianceBernstein by 15.2% during the 4th quarter. ARGI Investment Services LLC now owns 5,802 shares of the asset manager’s stock worth $283,000 after purchasing an additional 767 shares during the period. Brookstone Capital Management raised its stake in AllianceBernstein by 14.3% during the fourth quarter. Brookstone Capital Management now owns 36,839 shares of the asset manager’s stock worth $1,791,000 after acquiring an additional 4,604 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of AllianceBernstein by 25.0% during the third quarter. Kingsview Wealth Management LLC now owns 27,118 shares of the asset manager’s stock valued at $1,345,000 after buying an additional 5,425 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of AllianceBernstein during the fourth quarter valued at approximately $242,000. Finally, Centaurus Financial Inc. increased its stake in shares of AllianceBernstein by 26.1% during the third quarter. Centaurus Financial Inc. now owns 9,464 shares of the asset manager’s stock valued at $469,000 after acquiring an additional 1,960 shares during the period. Institutional investors own 12.78% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Tuesday, February 22nd were given a dividend of $1.29 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.89. This represents a $5.16 annualized dividend and a dividend yield of 10.91%. The ex-dividend date was Friday, February 18th. AllianceBernstein’s payout ratio is currently 132.99%.

About AllianceBernstein (Get Rating)

AllianceBernstein Holding LP engages in the provision of research, diversified investment management and related services. It offers investment trusts, mutual funds, hedge funds and other investment vehicles. The company was founded in October 2000 and is headquartered in Nashville, TN.

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Earnings History and Estimates for AllianceBernstein (NYSE:AB)

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