AllianceBernstein Holding L.P. (NYSE:AB) Receives $42.17 Average Price Target from Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $42.1667.

Several equities research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of AllianceBernstein from $36.50 to $40.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Barclays lifted their target price on AllianceBernstein from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a report on Wednesday, October 8th. Finally, Cowen restated a “hold” rating on shares of AllianceBernstein in a research note on Friday, October 24th.

Institutional Investors Weigh In On AllianceBernstein

A number of hedge funds have recently added to or reduced their stakes in AB. SVB Wealth LLC bought a new position in AllianceBernstein in the first quarter valued at about $32,000. Trust Co. of Vermont purchased a new stake in shares of AllianceBernstein during the 3rd quarter valued at about $115,000. CWM LLC lifted its stake in shares of AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock worth $116,000 after purchasing an additional 2,957 shares during the period. Bessemer Group Inc. purchased a new position in shares of AllianceBernstein in the second quarter worth approximately $163,000. Finally, Tyche Wealth Partners LLC bought a new stake in AllianceBernstein during the second quarter valued at approximately $204,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Stock Up 0.1%

AllianceBernstein stock opened at $39.99 on Friday. AllianceBernstein has a twelve month low of $32.28 and a twelve month high of $43.30. The company has a market capitalization of $3.64 billion, a P/E ratio of 13.15, a PEG ratio of 1.32 and a beta of 0.86. The stock’s 50 day moving average is $39.95 and its 200 day moving average is $39.97.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, October 23rd. The asset manager reported $0.86 EPS for the quarter, topping the consensus estimate of $0.85 by $0.01. The business had revenue of $884.67 million for the quarter, compared to the consensus estimate of $900.69 million. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, equities analysts expect that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 3rd were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 8.6%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, November 3rd. AllianceBernstein’s payout ratio is currently 113.16%.

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.