AllianceBernstein Holding L.P. (NYSE:AB) Receives Average Rating of “Buy” from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been given a consensus recommendation of “Buy” by the four analysts that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $40.69.

Several research firms have weighed in on AB. TD Cowen lowered their price objective on shares of AllianceBernstein from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Bank of America decreased their price target on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, April 29th.

Institutional Trading of AllianceBernstein

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Securities Inc. acquired a new stake in shares of AllianceBernstein during the fourth quarter worth $26,000. GAMMA Investing LLC bought a new stake in shares of AllianceBernstein in the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. acquired a new stake in shares of AllianceBernstein in the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new position in AllianceBernstein during the 1st quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. boosted its stake in AllianceBernstein by 198.7% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager’s stock worth $44,000 after acquiring an additional 950 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

NYSE AB opened at $33.83 on Wednesday. The stock’s 50 day simple moving average is $33.50 and its 200 day simple moving average is $33.35. AllianceBernstein has a one year low of $25.83 and a one year high of $35.43. The firm has a market cap of $3.90 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.24.

AllianceBernstein (NYSE:AB) last announced its earnings results on Thursday, April 25th. The asset manager reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The company had revenue of $884.18 million for the quarter, compared to analysts’ expectations of $900.60 million. As a group, equities analysts expect that AllianceBernstein will post 2.96 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Monday, May 6th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend was Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is presently 121.16%.

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.