AllianceBernstein Holding L.P. (NYSE:AB) Receives $42.17 Consensus Target Price from Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have been given an average rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.1667.

Several research analysts recently issued reports on AB shares. Sanford C. Bernstein reissued a “neutral” rating on shares of AllianceBernstein in a research note on Monday, February 9th. Weiss Ratings upgraded AllianceBernstein from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Evercore increased their price target on AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Barclays lifted their price objective on AllianceBernstein from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Zacks Research lowered shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd.

AllianceBernstein Trading Down 0.9%

NYSE AB opened at $39.29 on Thursday. The stock has a market cap of $3.63 billion, a PE ratio of 13.10, a PEG ratio of 1.06 and a beta of 0.87. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $44.11. The company’s 50-day moving average price is $39.94 and its 200-day moving average price is $39.66.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $957.31 million during the quarter, compared to analysts’ expectations of $956.45 million. AllianceBernstein had a net margin of 6.62% and a return on equity of 21.17%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. As a group, sell-side analysts forecast that AllianceBernstein will post 3.58 earnings per share for the current year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend is Friday, February 20th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.86. AllianceBernstein’s dividend payout ratio is currently 128.00%.

Hedge Funds Weigh In On AllianceBernstein

Large investors have recently bought and sold shares of the business. Garton & Associates Financial Advisors LLC bought a new stake in AllianceBernstein during the 4th quarter valued at $35,000. Motiv8 Investments LLC purchased a new stake in shares of AllianceBernstein during the 4th quarter worth $36,000. Elyxium Wealth LLC bought a new stake in AllianceBernstein during the fourth quarter valued at about $51,000. Heritage Wealth Advisors bought a new stake in AllianceBernstein during the fourth quarter valued at about $52,000. Finally, Ameriflex Group Inc. purchased a new position in AllianceBernstein in the fourth quarter valued at about $65,000. Institutional investors own 19.25% of the company’s stock.

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.