AllianceBernstein Holding L.P. (NYSE:AB) Receives Average Recommendation of “Hold” from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has earned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $40.25.

Several research analysts have commented on AB shares. Evercore restated an “outperform” rating and issued a $42.00 price objective on shares of AllianceBernstein in a report on Wednesday, April 29th. TD Cowen decreased their price objective on shares of AllianceBernstein from $39.50 to $39.00 and set a “hold” rating for the company in a report on Wednesday, April 29th. Weiss Ratings lowered shares of AllianceBernstein from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Zacks Research lowered shares of AllianceBernstein from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein restated a “buy” rating on shares of AllianceBernstein in a report on Wednesday, April 29th.

AllianceBernstein Trading Up 0.2%

Shares of NYSE AB opened at $37.26 on Friday. AllianceBernstein has a 12 month low of $35.59 and a 12 month high of $44.11. The firm has a market capitalization of $3.48 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80. The firm has a fifty day simple moving average of $38.21 and a two-hundred day simple moving average of $39.19.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). AllianceBernstein had a return on equity of 23.11% and a net margin of 6.69%.The company had revenue of $871.14 million during the quarter, compared to the consensus estimate of $894.70 million. During the same quarter last year, the company posted $0.80 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that AllianceBernstein will post 3.46 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Friday, May 8th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 8.9%. AllianceBernstein’s dividend payout ratio is currently 102.15%.

Institutional Trading of AllianceBernstein

Hedge funds and other institutional investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of AllianceBernstein in the 4th quarter worth about $28,000. Axiom Investment Management LLC purchased a new stake in shares of AllianceBernstein in the 1st quarter worth about $28,000. Ascentis Independent Advisors purchased a new stake in shares of AllianceBernstein in the 1st quarter worth about $30,000. NFSG Corp grew its position in shares of AllianceBernstein by 800.0% in the 1st quarter. NFSG Corp now owns 900 shares of the asset manager’s stock worth $34,000 after buying an additional 800 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of AllianceBernstein in the 4th quarter worth about $35,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

About AllianceBernstein

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.