AllianceBernstein (NYSE:AB – Get Free Report) released its quarterly earnings data on Friday. The asset manager reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04, RTT News reports. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $807.42 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis.
AllianceBernstein Stock Up 1.6 %
Shares of NYSE AB opened at $34.97 on Monday. AllianceBernstein has a fifty-two week low of $25.83 and a fifty-two week high of $35.45. The firm’s 50-day simple moving average is $33.68 and its 200 day simple moving average is $33.55. The stock has a market cap of $4.03 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.81 and a beta of 1.24.
AllianceBernstein Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend is Monday, August 5th. AllianceBernstein’s dividend payout ratio is currently 121.16%.
Institutional Investors Weigh In On AllianceBernstein
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on AB. Bank of America reduced their price target on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a report on Monday, April 29th. TD Cowen reduced their price target on shares of AllianceBernstein from $39.00 to $37.00 and set a “buy” rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.69.
View Our Latest Research Report on AB
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.
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