AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $0.88 on November 19th

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.88 per share by the asset manager on Thursday, November 19th. This represents a $3.52 annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend is Friday, November 6th. This is a 7.3% increase from AllianceBernstein’s previous quarterly dividend of $0.82.

AllianceBernstein has a dividend payout ratio of 99.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect AllianceBernstein to earn $3.74 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 94.1%.

AllianceBernstein Price Performance

AllianceBernstein stock opened at $35.03 on Wednesday. The stock’s 50 day moving average is $35.60 and its 200 day moving average is $37.49. The firm has a market cap of $3.26 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.18 and a beta of 0.74. AllianceBernstein has a one year low of $33.90 and a one year high of $44.11.

AllianceBernstein (NYSE:AB) last announced its earnings results on Tuesday, October 27th. The asset manager reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. AllianceBernstein had a return on equity of 25.97% and a net margin of 6.47%. The business had revenue of $904.25 million for the quarter, compared to analysts’ expectations of $913.82 million. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that AllianceBernstein will post 3.45 earnings per share for the current fiscal year.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. (NYSE:AB) is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.