AllianceBernstein Holding L.P. (NYSE:AB) Receives $41.58 Average PT from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $41.4167.

AB has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed a “negative” rating on shares of AllianceBernstein in a research note on Friday. Weiss Ratings raised shares of AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. TD Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a research note on Wednesday, January 14th. Finally, Barclays decreased their price target on shares of AllianceBernstein from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday.

Institutional Investors Weigh In On AllianceBernstein

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Payne Capital Management LLC purchased a new stake in shares of AllianceBernstein in the third quarter valued at $1,055,000. Moody Aldrich Partners LLC raised its stake in shares of AllianceBernstein by 131.6% in the third quarter. Moody Aldrich Partners LLC now owns 137,341 shares of the asset manager’s stock valued at $5,249,000 after acquiring an additional 78,047 shares during the period. Mutual Advisors LLC raised its stake in shares of AllianceBernstein by 17.5% in the third quarter. Mutual Advisors LLC now owns 16,929 shares of the asset manager’s stock valued at $665,000 after acquiring an additional 2,524 shares during the period. Crumly & Associates Inc. purchased a new stake in shares of AllianceBernstein in the third quarter valued at $210,000. Finally, Chilton Capital Management LLC raised its stake in shares of AllianceBernstein by 8.2% in the third quarter. Chilton Capital Management LLC now owns 33,733 shares of the asset manager’s stock valued at $1,289,000 after acquiring an additional 2,543 shares during the period. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Trading Up 0.1%

NYSE:AB opened at $38.91 on Friday. The company has a market capitalization of $3.59 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.86 and a beta of 0.86. AllianceBernstein has a 12 month low of $35.59 and a 12 month high of $44.11. The business’s 50-day moving average is $38.64 and its 200 day moving average is $39.42.

AllianceBernstein (NYSE:AB) last posted its earnings results on Thursday, February 5th. The asset manager reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $957.31 million for the quarter, compared to the consensus estimate of $956.45 million. AllianceBernstein had a return on equity of 21.17% and a net margin of 6.62%.The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. On average, research analysts forecast that AllianceBernstein will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 9.9%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, February 20th. AllianceBernstein’s dividend payout ratio (DPR) is currently 128.00%.

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.