AllianceBernstein Holding L.P. (NYSE:AB) Given Average Recommendation of “Buy” by Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has received an average recommendation of “Buy” from the four analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $41.19.

AB has been the subject of several recent research reports. TD Cowen cut their price target on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating for the company in a report on Monday. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Bank of America decreased their target price on shares of AllianceBernstein from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Evercore ISI reiterated a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a research report on Tuesday, March 12th.

Institutional Investors Weigh In On AllianceBernstein

Institutional investors and hedge funds have recently modified their holdings of the stock. Crestwood Advisors Group LLC purchased a new stake in shares of AllianceBernstein in the third quarter worth about $85,508,000. UBS Group AG increased its stake in AllianceBernstein by 39.9% in the 4th quarter. UBS Group AG now owns 851,533 shares of the asset manager’s stock worth $26,423,000 after acquiring an additional 242,765 shares during the last quarter. TCG Advisory Services LLC lifted its holdings in shares of AllianceBernstein by 2,811.0% in the 4th quarter. TCG Advisory Services LLC now owns 222,928 shares of the asset manager’s stock valued at $6,917,000 after acquiring an additional 215,270 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of AllianceBernstein during the 3rd quarter valued at approximately $4,328,000. Finally, General American Investors Co. Inc. purchased a new stake in shares of AllianceBernstein in the fourth quarter valued at $4,192,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Down 1.8 %

Shares of NYSE:AB opened at $33.48 on Friday. The firm’s 50 day moving average price is $33.68 and its 200-day moving average price is $31.74. The stock 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 has a twelve month low of $25.83 and a twelve month high of $35.84.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results 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 business had revenue of $1.09 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. Analysts expect that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

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

About AllianceBernstein

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.