AllianceBernstein Holding L.P. (NYSE:AB) Plans $0.73 Quarterly Dividend

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.73 per share by the asset manager on Thursday, May 23rd. This represents a $2.92 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Friday, May 3rd.

AllianceBernstein has decreased its dividend by an average of 2.1% per year over the last three years. AllianceBernstein has a dividend payout ratio of 83.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect AllianceBernstein to earn $3.39 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 86.1%.

AllianceBernstein Trading Down 1.2 %

Shares of NYSE:AB opened at $33.10 on Thursday. The company has a market capitalization of $3.79 billion, a PE ratio of 13.73, a P/E/G ratio of 0.77 and a beta of 1.25. AllianceBernstein has a 12-month low of $25.83 and a 12-month high of $35.84. The business’s fifty day simple moving average is $33.69 and its 200-day simple moving average is $31.75.

AllianceBernstein (NYSE:AB) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $857.85 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. Research analysts predict that AllianceBernstein will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

AB has been the subject of several recent analyst reports. TheStreet upgraded shares of AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Evercore ISI reiterated a “buy” rating and set a $38.00 price objective on shares of AllianceBernstein in a report on Tuesday, March 12th. Bank of America lowered their price objective on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Monday. Finally, TD Cowen reduced their target price on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.19.

About AllianceBernstein

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.