AllianceBernstein Holding L.P. (NYSE:AB) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $37.33.
AB has been the topic of several recent research reports. Sanford C. Bernstein downgraded AllianceBernstein from a “buy” rating to a “neutral” rating in a report on Friday, April 9th. Zacks Investment Research raised AllianceBernstein from a “sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price (down from $41.00) on shares of AllianceBernstein in a report on Thursday, April 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $40.00 target price (down from $41.00) on shares of AllianceBernstein in a report on Wednesday, March 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $42.00 target price on shares of AllianceBernstein in a report on Tuesday, April 13th.
Shares of NYSE AB traded down $0.29 during mid-day trading on Tuesday, hitting $44.29. 531,554 shares of the stock traded hands, compared to its average volume of 475,525. AllianceBernstein has a twelve month low of $20.04 and a twelve month high of $44.99. The company has a market cap of $4.35 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.80 and a beta of 1.51. The firm has a 50 day simple moving average of $40.98 and a two-hundred day simple moving average of $35.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 27th. Stockholders of record on Monday, May 10th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Friday, May 7th. AllianceBernstein’s dividend payout ratio (DPR) is presently 153.97%.
In other news, insider Laurence E. Cranch sold 9,154 shares of AllianceBernstein stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $37.71, for a total value of $345,197.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of AB. Jupiter Asset Management Ltd. bought a new stake in AllianceBernstein in the 4th quarter valued at about $5,183,000. Amundi Pioneer Asset Management Inc. increased its holdings in AllianceBernstein by 11.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 969,559 shares of the asset manager’s stock worth $32,741,000 after purchasing an additional 102,307 shares in the last quarter. Artemis Investment Management LLP increased its holdings in AllianceBernstein by 22.8% during the 1st quarter. Artemis Investment Management LLP now owns 505,988 shares of the asset manager’s stock worth $20,201,000 after purchasing an additional 93,791 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in AllianceBernstein during the 4th quarter worth approximately $1,717,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in AllianceBernstein by 83.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 93,234 shares of the asset manager’s stock worth $3,149,000 after purchasing an additional 42,275 shares in the last quarter. 17.75% of the stock is owned by institutional investors and hedge funds.
AllianceBernstein Company Profile
AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities.
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