AllianceBernstein Holding L.P. (NYSE:AB) to Issue $0.82 Quarterly Dividend

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Wednesday, August 12th will be paid a dividend of 0.82 per share by the asset manager on Thursday, August 27th. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date is Wednesday, August 12th.

AllianceBernstein has raised its dividend payment by an average of 0.0%annually over the last three years. AllianceBernstein has a dividend payout ratio of 94.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect AllianceBernstein to earn $3.90 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 85.1%.

AllianceBernstein Price Performance

AB stock opened at $37.44 on Wednesday. The company has a fifty day moving average price of $36.87 and a two-hundred day moving average price of $38.33. AllianceBernstein has a one year low of $34.92 and a one year high of $44.11. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.21 and a beta of 0.81.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $887.55 million during the quarter, compared to analyst estimates of $907.67 million. AllianceBernstein had a net margin of 6.69% and a return on equity of 23.11%. AllianceBernstein’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Research analysts anticipate that AllianceBernstein will post 3.52 EPS for the current fiscal year.

AllianceBernstein Company Profile

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.