AllianceBernstein Holding L.P. (NYSE:AB) Receives $40.44 Average Target Price from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been given a consensus recommendation of “Buy” by the four analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.19.

A number of equities research analysts recently commented on AB shares. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Bank of America lowered their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday. TD Cowen reduced their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th.

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors and hedge funds have recently made changes to their positions in the business. Herold Advisors Inc. grew its holdings in shares of AllianceBernstein by 2.0% during the fourth quarter. Herold Advisors Inc. now owns 15,500 shares of the asset manager’s stock valued at $481,000 after buying an additional 300 shares during the last quarter. Advisory Services Network LLC boosted its stake in AllianceBernstein by 1.7% during the 4th quarter. Advisory Services Network LLC now owns 18,975 shares of the asset manager’s stock valued at $589,000 after purchasing an additional 315 shares during the last quarter. Karpas Strategies LLC boosted its stake in AllianceBernstein by 2.2% during the 4th quarter. Karpas Strategies LLC now owns 18,110 shares of the asset manager’s stock valued at $562,000 after purchasing an additional 395 shares during the last quarter. Chilton Capital Management LLC increased its holdings in AllianceBernstein by 1.3% during the 4th quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 448 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of AllianceBernstein by 7.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,014 shares of the asset manager’s stock worth $249,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

AllianceBernstein stock opened at $33.48 on Friday. The business has a 50 day simple moving average of $33.68 and a 200 day simple moving average of $31.74. AllianceBernstein has a one year low of $25.83 and a one year high of $35.84. The company has a market capitalization of $3.83 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $857.85 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities analysts anticipate that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 8.72%. The ex-dividend date is Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is presently 127.80%.

AllianceBernstein Company Profile

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.