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

AllianceBernstein Holding L.P. (NYSE:AB) has received an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $39.90.

A number of research analysts have weighed in on the company. TD Cowen decreased their price target on AllianceBernstein from $39.50 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Barclays decreased their price target on AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Zacks Research downgraded AllianceBernstein from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings downgraded AllianceBernstein from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Evercore set a $40.00 price target on AllianceBernstein in a research note on Monday, June 8th.

Institutional Trading of AllianceBernstein

Hedge funds have recently made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $28,000. Axiom Investment Management LLC acquired a new stake in shares of AllianceBernstein in the first quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new stake in shares of AllianceBernstein in the first quarter valued at approximately $30,000. NFSG Corp lifted its position in shares of AllianceBernstein by 800.0% in the first quarter. NFSG Corp now owns 900 shares of the asset manager’s stock valued at $34,000 after buying an additional 800 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $35,000. 19.25% of the stock is owned by institutional investors and hedge funds.

AllianceBernstein Stock Performance

NYSE:AB opened at $35.23 on Wednesday. The company has a market cap of $3.29 billion, a PE ratio of 10.84, a PEG ratio of 1.65 and a beta of 0.80. AllianceBernstein has a 52-week low of $34.92 and a 52-week high of $44.11. The stock has a 50-day simple moving average of $37.55 and a 200 day simple moving average of $38.62.

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

AllianceBernstein Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Friday, May 8th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date was Friday, May 8th. AllianceBernstein’s dividend payout ratio (DPR) is currently 102.15%.

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.