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

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have received a consensus rating of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.67.

A number of brokerages have issued reports on AB. Bank of America downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $42.00 to $38.00 in a research note on Thursday, April 3rd. TD Cowen dropped their price target on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Barclays upped their price target on AllianceBernstein from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Evercore ISI dropped their price target on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Wall Street Zen raised AllianceBernstein from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th.

AllianceBernstein Trading Down 0.6%

AllianceBernstein stock traded down $0.24 during trading on Tuesday, hitting $39.92. 835,706 shares of the company were exchanged, compared to its average volume of 445,607. The business's 50 day moving average is $38.53 and its 200 day moving average is $37.60. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $41.86. The company has a market capitalization of $4.42 billion, a P/E ratio of 10.73, a PEG ratio of 0.78 and a beta of 0.85.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $838.21 million during the quarter, compared to the consensus estimate of $859.36 million. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The business's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Equities analysts expect that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 5th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, May 5th. This represents a $3.20 dividend on an annualized basis and a yield of 8.02%. AllianceBernstein's dividend payout ratio (DPR) is 86.02%.

Insider Buying and Selling

In related news, Director Daniel G. Kaye sold 4,825 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $40.80, for a total transaction of $196,860.00. Following the sale, the director now owns 39,877 shares of the company's stock, valued at approximately $1,626,981.60. This represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles G.T. Stonehill sold 5,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $41.18, for a total value of $205,900.00. Following the completion of the transaction, the director now owns 20,923 shares in the company, valued at $861,609.14. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AllianceBernstein

A number of institutional investors have recently added to or reduced their stakes in the business. Chelsea Counsel Co. bought a new position in AllianceBernstein in the 1st quarter worth about $402,000. Belpointe Asset Management LLC increased its stake in AllianceBernstein by 3.6% in the 1st quarter. Belpointe Asset Management LLC now owns 21,950 shares of the asset manager's stock worth $841,000 after acquiring an additional 768 shares during the last quarter. Focus Partners Wealth increased its stake in AllianceBernstein by 43.5% in the 1st quarter. Focus Partners Wealth now owns 27,375 shares of the asset manager's stock worth $1,049,000 after acquiring an additional 8,304 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in AllianceBernstein by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager's stock worth $35,114,000 after acquiring an additional 312,878 shares during the last quarter. Finally, Ursa Fund Management LLC bought a new position in AllianceBernstein in the 1st quarter worth about $7,662,000. 19.25% of the stock is currently owned by institutional investors.

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.