AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $1.05 on March 13th

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 1.05 per share by the asset manager on Thursday, March 13th. This represents a $4.20 annualized dividend and a yield of 11.48%. The ex-dividend date is Tuesday, February 18th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77.

AllianceBernstein has decreased its dividend by an average of 5.9% per year over the last three years. AllianceBernstein has a payout ratio of 106.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect AllianceBernstein to earn $3.48 per share next year, which means the company may not be able to cover its $4.20 annual dividend with an expected future payout ratio of 120.7%.

AllianceBernstein Stock Up 1.5 %

AllianceBernstein stock opened at $36.58 on Friday. AllianceBernstein has a twelve month low of $30.57 and a twelve month high of $41.37. The company’s 50-day moving average price is $37.24 and its 200-day moving average price is $35.99. The company has a market cap of $4.21 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 16.23% and a net margin of 9.22%. As a group, sell-side analysts expect that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AB has been the subject of a number of analyst reports. Evercore ISI raised their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays lowered their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AllianceBernstein presently has an average rating of “Moderate Buy” and an average price target of $42.40.

About AllianceBernstein

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.