Brokerages Set AllianceBernstein Holding L.P. (NYSE:AB) Target Price at $37.67

AllianceBernstein Holding L.P. (NYSE:AB) has been given an average rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.67.

AB has been the topic of a number of research reports. Bank of America lowered shares of AllianceBernstein from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. StockNews.com lowered AllianceBernstein from a “hold” rating to a “sell” rating in a research note on Friday. Sanford C. Bernstein downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research report on Thursday, April 3rd. TD Cowen decreased their price objective on shares of AllianceBernstein from $37.50 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Finally, Evercore ISI lowered their price target on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, April 11th.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $41.78 on Friday. AllianceBernstein has a fifty-two week low of $30.57 and a fifty-two week high of $41.86. The company has a market capitalization of $4.63 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.78 and a beta of 0.85. The company has a fifty day moving average of $37.48 and a 200 day moving average of $37.19.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, April 24th. The asset manager reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The company had revenue of $838.21 million during the quarter, compared to analyst estimates of $859.36 million. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts forecast that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date is Monday, May 5th. AllianceBernstein’s dividend payout ratio (DPR) is currently 86.02%.

Institutional Trading of AllianceBernstein

Several hedge funds have recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new stake in AllianceBernstein during the first quarter worth approximately $38,000. Prevail Innovative Wealth Advisors LLC acquired a new position in AllianceBernstein during the 1st quarter worth approximately $422,000. Apollon Wealth Management LLC lifted its holdings in AllianceBernstein by 20.9% in the first quarter. Apollon Wealth Management LLC now owns 20,528 shares of the asset manager’s stock valued at $786,000 after acquiring an additional 3,552 shares during the period. Chilton Capital Management LLC boosted its holdings in AllianceBernstein by 2.8% during the first quarter. Chilton Capital Management LLC now owns 31,190 shares of the asset manager’s stock worth $1,195,000 after buying an additional 838 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of AllianceBernstein by 13.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 16,791 shares of the asset manager’s stock worth $643,000 after acquiring an additional 1,976 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

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.