AllianceBernstein (NYSE:AB) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of AllianceBernstein Holding L.P. (NYSE:AB) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.53 and traded as low as $37.87. AllianceBernstein shares last traded at $38.10, with a volume of 252,560 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AB. Sanford C. Bernstein restated a “neutral” rating on shares of AllianceBernstein in a report on Monday, February 9th. TD Cowen reiterated a “hold” rating on shares of AllianceBernstein in a report on Wednesday, January 14th. Barclays boosted their price objective on shares of AllianceBernstein from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Evercore raised their target price on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Zacks Research lowered shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.17.

AllianceBernstein Stock Down 1.4%

The firm has a market cap of $3.46 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.03 and a beta of 0.87. The business has a fifty day simple moving average of $39.79 and a 200-day simple moving average of $39.51.

AllianceBernstein (NYSE:AB) last released its earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $957.31 million for the quarter, compared to the consensus estimate of $956.45 million. AllianceBernstein had a net margin of 6.62% and a return on equity of 21.17%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts anticipate that AllianceBernstein Holding L.P. will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 20th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $3.84 annualized dividend and a dividend yield of 10.2%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.86. AllianceBernstein’s payout ratio is presently 128.00%.

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in AllianceBernstein in the 4th quarter valued at approximately $28,000. Garton & Associates Financial Advisors LLC bought a new position in AllianceBernstein during the 4th quarter valued at about $35,000. Motiv8 Investments LLC bought a new position in AllianceBernstein during the 4th quarter valued at about $36,000. Elyxium Wealth LLC purchased a new stake in shares of AllianceBernstein during the 4th quarter valued at about $51,000. Finally, Heritage Wealth Advisors bought a new stake in shares of AllianceBernstein in the fourth quarter worth approximately $52,000. Institutional investors own 19.25% of the company’s stock.

About AllianceBernstein

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.