AllianceBernstein Holding LP Plans Quarterly Dividend of $0.45 (AB)
AllianceBernstein Holding (NYSE:AB) announced a quarterly dividend on Thursday, July 31st, AnalystRatingsNetwork.com reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.45 per share on Thursday, August 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Thursday, August 7th. This is a boost from AllianceBernstein Holding’s previous quarterly dividend of $0.39.
A number of analysts have recently weighed in on AB shares. Analysts at Sanford C. Bernstein raised their price target on shares of AllianceBernstein Holding from $31.00 to $32.00 in a research note on Thursday. On a related note, analysts at Citigroup Inc. upgraded shares of AllianceBernstein Holding from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $30.00 price target on the stock, up previously from $28.00. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of AllianceBernstein Holding from a “market perform” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $31.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $28.93.
Shares of AllianceBernstein Holding (NYSE:AB) traded down 0.57% during mid-day trading on Thursday, hitting $26.14. 712,798 shares of the company’s stock traded hands. AllianceBernstein Holding has a 1-year low of $19.25 and a 1-year high of $28.18. The stock has a 50-day moving average of $26.29 and a 200-day moving average of $24.73. The company has a market cap of $2.516 billion and a price-to-earnings ratio of 15.39.
AllianceBernstein Holding (NYSE:AB) last released its earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.04. The company had revenue of $754.00 million for the quarter, compared to the consensus estimate of $740.70 million. During the same quarter last year, the company posted $0.41 earnings per share. AllianceBernstein Holding’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that AllianceBernstein Holding will post $1.79 EPS for the current fiscal year.
AllianceBernstein Holding L.P provides research, diversified investment management and related services globally to a range of clients through three buy-side distribution channels, Institutions, Retail and Private Client, and its sell-side business, Bernstein Research Services.
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