AllianceBernstein Holding L.P. (NYSE:AB) Receives $39.50 Consensus PT from Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $39.50.

A number of research analysts have recently commented on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of AllianceBernstein in a report on Friday, July 10th. Zacks Research upgraded shares of AllianceBernstein from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Evercore set a $39.00 price objective on shares of AllianceBernstein in a research report on Friday, July 10th. TD Cowen increased their price objective on shares of AllianceBernstein from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings lowered shares of AllianceBernstein from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In other news, Director Charles Stonehill sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total value of $185,850.00. Following the completion of the transaction, the director owned 24,573 shares of the company’s stock, valued at $913,378.41. This represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of AllianceBernstein during the fourth quarter worth approximately $28,000. Axiom Investment Management LLC acquired a new stake in AllianceBernstein in the 1st quarter valued at $28,000. Russell Investments Group Ltd. bought a new stake in AllianceBernstein during the 2nd quarter valued at $28,000. Fifth Third Bancorp bought a new stake in AllianceBernstein during the 2nd quarter valued at $29,000. Finally, Ascentis Independent Advisors acquired a new position in AllianceBernstein during the first quarter worth $30,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of AB opened at $36.30 on Monday. AllianceBernstein has a 52-week low of $34.92 and a 52-week high of $44.11. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.19 and a beta of 0.79. The business’s fifty day moving average is $36.86 and its 200-day moving average is $37.36.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%.The business had revenue of $887.55 million for the quarter, compared to the consensus estimate of $907.67 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. AllianceBernstein’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that AllianceBernstein will post 3.47 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Wednesday, August 12th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date was Wednesday, August 12th. AllianceBernstein’s dividend payout ratio is presently 97.04%.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. (NYSE: AB) is a global investment management company that provides investment products, research and related services to institutional investors, financial advisers, individual investors and private-wealth clients. Its offerings span equities, fixed income, multi-asset strategies, alternatives and other portfolio solutions.

The company serves clients through institutional and retail channels, including pension plans, governments, foundations, insurance companies, financial intermediaries and high-net-worth individuals.