AllianceBernstein (AB) Scheduled to Post Quarterly Earnings on Thursday

AllianceBernstein (NYSE:AB) will announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.70 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same period in the prior year, the firm earned $0.70 EPS. AllianceBernstein’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AllianceBernstein Trading Down 0.8 %

AB opened at $32.43 on Thursday. The business has a 50 day moving average of $33.63 and a 200-day moving average of $31.54. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.63 and a beta of 1.25. AllianceBernstein has a 1-year low of $25.83 and a 1-year high of $36.97.

AllianceBernstein Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $0.77 dividend. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, February 16th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.50%. AllianceBernstein’s dividend payout ratio is currently 132.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AB shares. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. TD Cowen reiterated a “buy” rating and set a $40.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 9th. Finally, Evercore ISI restated a “buy” rating and issued a $38.00 price objective on shares of AllianceBernstein in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AllianceBernstein currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.44.

Institutional Trading of AllianceBernstein

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cowa LLC acquired a new stake in shares of AllianceBernstein in the 1st quarter valued at about $27,000. JPMorgan Chase & Co. raised its holdings in AllianceBernstein by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,607,636 shares of the asset manager’s stock worth $48,792,000 after buying an additional 98,567 shares during the last quarter. Morgan Stanley raised its holdings in AllianceBernstein by 26.3% during the fourth quarter. Morgan Stanley now owns 1,183,665 shares of the asset manager’s stock worth $40,683,000 after buying an additional 246,609 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of AllianceBernstein by 130.8% during the first quarter. Bank of America Corp DE now owns 926,832 shares of the asset manager’s stock valued at $33,885,000 after buying an additional 525,176 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its holdings in shares of AllianceBernstein by 15.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 507,900 shares of the asset manager’s stock valued at $15,760,000 after buying an additional 66,275 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

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.