Q2 2022 Earnings Forecast for AllianceBernstein Holding L.P. Issued By Jefferies Financial Group (NYSE:AB)

AllianceBernstein Holding L.P. (NYSE:AB – Get Rating) – Stock analysts at Jefferies Financial Group lifted their Q2 2022 EPS estimates for shares of AllianceBernstein in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will post earnings of $0.83 per share for the quarter, up from their previous forecast of $0.82. Jefferies Financial Group also issued estimates for AllianceBernstein’s Q3 2022 earnings at $0.85 EPS.

AllianceBernstein (NYSE:AB – Get Rating) last issued its quarterly earnings results on Friday, February 11th. The asset manager reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.29. The company had revenue of $1.26 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share.

Several other equities analysts have also issued reports on AB. Zacks Investment Research lowered AllianceBernstein from a “hold” rating to a “sell” rating in a research note on Wednesday, March 9th. Citigroup lifted their price target on shares of AllianceBernstein from $62.00 to $64.50 and gave the stock a “buy” rating in a research note on Wednesday, January 12th. Finally, StockNews.com started coverage on shares of AllianceBernstein in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

NYSE:AB opened at $46.16 on Wednesday. AllianceBernstein has a one year low of $39.57 and a one year high of $57.54. The company has a fifty day moving average price of $45.84 and a 200 day moving average price of $49.32. The stock has a market cap of $4.58 billion, a P/E ratio of 11.90 and a beta of 1.37.

Several institutional investors and hedge funds have recently bought and sold shares of AB. J.W. Cole Advisors Inc. bought a new position in AllianceBernstein during the 3rd quarter valued at about $330,000. Sigma Planning Corp acquired a new stake in shares of AllianceBernstein during the third quarter worth approximately $227,000. Janney Montgomery Scott LLC raised its stake in shares of AllianceBernstein by 8.2% in the third quarter. Janney Montgomery Scott LLC now owns 160,206 shares of the asset manager’s stock valued at $7,943,000 after acquiring an additional 12,118 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of AllianceBernstein by 6.2% in the 3rd quarter. Independent Advisor Alliance now owns 5,768 shares of the asset manager’s stock worth $286,000 after acquiring an additional 337 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in AllianceBernstein by 58.3% during the 3rd quarter. AE Wealth Management LLC now owns 7,871 shares of the asset manager’s stock worth $390,000 after acquiring an additional 2,900 shares during the last quarter. 12.78% of the stock is currently owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Tuesday, February 22nd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 11.18%. The ex-dividend date was Friday, February 18th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.89. 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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