AllianceBernstein Holding L.P. (NYSE:AB) Given Average Recommendation of "Hold" by Analysts

Key Points

• AllianceBernstein Holding has an average analyst recommendation of “Hold”, with seven covering firms split between five holds and two buys. The average 1-year price target is $39.50.
• Recent analyst actions were mixed, including a target cut from Barclays to $39, a reaffirmed outperform rating from Sanford C. Bernstein, and upgrades/downgrades from Zacks Research and Weiss Ratings.
• The company reported Q1 earnings of $0.83 per share, missing estimates, while revenue came in at $871.13 million versus expectations of $894.70 million. AllianceBernstein also paid a quarterly dividend of $0.83 per share, implying an annualized yield of 8.9%.

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) has been assigned an average recommendation of "Hold" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $39.50.

Several equities analysts recently commented on the company. Barclays reduced their price target on AllianceBernstein from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Sanford C. Bernstein reiterated an "outperform" rating on shares of AllianceBernstein in a research note on Friday, July 10th. Zacks Research raised shares of AllianceBernstein from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. TD Cowen boosted their target price on shares of AllianceBernstein from $37.00 to $38.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Finally, Weiss Ratings downgraded shares of AllianceBernstein from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, June 29th.

Hedge Funds Weigh In On AllianceBernstein

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AB. Axiom Investment Management LLC acquired a new stake in shares of AllianceBernstein during the first quarter valued at about $28,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of AllianceBernstein in the fourth quarter worth about $28,000. Ascentis Independent Advisors acquired a new position in shares of AllianceBernstein in the first quarter worth about $30,000. NFSG Corp boosted its holdings in AllianceBernstein by 800.0% in the first quarter. NFSG Corp now owns 900 shares of the asset manager's stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new position in AllianceBernstein in the fourth quarter valued at about $35,000. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Price Performance

Shares of AB opened at $37.15 on Friday. The stock's 50-day moving average is $36.90 and its two-hundred day moving average is $38.36. The stock has a market cap of $3.47 billion, a PE ratio of 11.43, a P/E/G ratio of 1.19 and a beta of 0.81. AllianceBernstein has a 12 month low of $34.92 and a 12 month high of $44.11.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $871.13 million during the quarter, compared to analysts' expectations of $894.70 million. AllianceBernstein had a return on equity of 23.11% and a net margin of 6.69%.AllianceBernstein's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. On average, research analysts anticipate that AllianceBernstein will post 3.52 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Friday, May 8th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.32 annualized dividend and a yield of 8.9%. AllianceBernstein's payout ratio is 102.15%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.