AllianceBernstein (NYSE:AB) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

AllianceBernstein Holding L.P. (NYSE:AB) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $39.53 and traded as low as $37.87. AllianceBernstein shares last traded at $38.10, with a volume of 252,560 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on AB. TD Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Sanford C. Bernstein reissued a “neutral” rating on shares of AllianceBernstein in a research note on Monday, February 9th. Evercore raised their price objective on AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Barclays lifted their price objective on AllianceBernstein from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Zacks Research downgraded shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.17.

AllianceBernstein Stock Up 0.0%

The firm’s 50 day simple moving average is $39.85 and its two-hundred day simple moving average is $39.53. The stock has a market capitalization of $3.52 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.03 and a beta of 0.87.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. AllianceBernstein had a net margin of 6.62% and a return on equity of 21.17%. The company had revenue of $957.31 million for the quarter, compared to analysts’ expectations of $956.45 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that AllianceBernstein Holding L.P. will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were issued a $0.96 dividend. The ex-dividend date was Friday, February 20th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.86. This represents a $3.84 annualized dividend and a yield of 10.1%. AllianceBernstein’s dividend payout ratio is currently 128.00%.

Institutional Investors Weigh In On AllianceBernstein

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of AllianceBernstein during the fourth quarter worth approximately $28,000. Garton & Associates Financial Advisors LLC bought a new position in shares of AllianceBernstein in the 4th quarter worth $35,000. Motiv8 Investments LLC acquired a new stake in AllianceBernstein in the 4th quarter valued at $36,000. Elyxium Wealth LLC bought a new stake in AllianceBernstein during the 4th quarter valued at $51,000. Finally, Heritage Wealth Advisors bought a new stake in AllianceBernstein during the 4th quarter valued at $52,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.