AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) has been given a consensus recommendation of “Buy” by the four analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.19.
A number of equities research analysts recently commented on AB shares. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Bank of America lowered their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday. TD Cowen reduced their price objective on shares of AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th.
Check Out Our Latest Research Report on AB
Institutional Investors Weigh In On AllianceBernstein
AllianceBernstein Price Performance
AllianceBernstein stock opened at $33.48 on Friday. The business has a 50 day simple moving average of $33.68 and a 200 day simple moving average of $31.74. AllianceBernstein has a one year low of $25.83 and a one year high of $35.84. The company has a market capitalization of $3.83 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25.
AllianceBernstein (NYSE:AB – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $857.85 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities analysts anticipate that AllianceBernstein will post 3.06 earnings per share for the current fiscal year.
AllianceBernstein Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 8.72%. The ex-dividend date is Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is presently 127.80%.
AllianceBernstein Company Profile
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.
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