AllianceBernstein (NYSE:AB) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

AllianceBernstein Holding L.P. (NYSE:AB)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.26 and traded as low as $36.81. AllianceBernstein shares last traded at $36.9760, with a volume of 241,242 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AB shares. Barclays reduced their target price on shares of AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein restated a “buy” rating on shares of AllianceBernstein in a research note on Wednesday, April 29th. TD Cowen dropped their price target on AllianceBernstein from $39.50 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Evercore restated an “outperform” rating and set a $42.00 price target on shares of AllianceBernstein in a research note on Wednesday, April 29th. Finally, Zacks Research lowered AllianceBernstein from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AllianceBernstein currently has an average rating of “Hold” and a consensus price target of $40.25.

AllianceBernstein Stock Down 0.7%

The stock has a 50-day moving average of $38.21 and a 200 day moving average of $39.26. The stock has a market cap of $3.45 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80.

AllianceBernstein (NYSE:AB) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The firm had revenue of $871.14 million during the quarter, compared to analysts’ expectations of $894.70 million. AllianceBernstein had a net margin of 6.69% and a return on equity of 23.11%. AllianceBernstein’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, equities analysts anticipate that AllianceBernstein Holding L.P. will post 3.46 EPS for the current 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 issued 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 yield of 9.0%. AllianceBernstein’s payout ratio is presently 102.15%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of AllianceBernstein during the 4th quarter valued at approximately $28,000. Axiom Investment Management LLC purchased a new position in shares of AllianceBernstein during the 1st quarter valued at approximately $28,000. Ascentis Independent Advisors purchased a new position in shares of AllianceBernstein during the 1st quarter valued at approximately $30,000. NFSG Corp lifted its position in shares of AllianceBernstein by 800.0% during the 1st quarter. NFSG Corp now owns 900 shares of the asset manager’s stock valued at $34,000 after buying an additional 800 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of AllianceBernstein during the 4th quarter valued at approximately $35,000. 19.25% of the stock is owned by institutional investors and hedge funds.

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.