AllianceBernstein Holding L.P. (NYSE:AB) Receives $39.67 Consensus Target Price from Analysts

Key Points

• AllianceBernstein Holding L.P. has received an average analyst rating of "Hold", with one buy recommendation and four hold ratings among five analysts cover the stock.
• The company's recent earnings report showed a slight miss on EPS estimates, reporting $0.76 against an expectation of $0.77, alongside a 5.9% increase in revenue compared to the previous year.
• AllianceBernstein recently cut its quarterly dividend to $0.76 per share, yielding approximately 7.7%, with a payout ratio of 90.21%.

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $39.3333.

Several research firms have recently commented on AB. Barclays upped their price target on shares of AllianceBernstein from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Evercore ISI cut their price objective on shares of AllianceBernstein from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Friday. The Goldman Sachs Group cut AllianceBernstein from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $42.25 to $40.00 in a report on Friday, June 27th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of AllianceBernstein in a research report on Friday.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded down $0.45 during midday trading on Thursday, reaching $38.07. 64,353 shares of the company's stock traded hands, compared to its average volume of 461,132. The stock has a 50 day moving average of $40.62 and a 200-day moving average of $39.37. The company has a market cap of $4.21 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.84. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $43.30.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.01). The firm had revenue of $844.43 million during the quarter, compared to the consensus estimate of $853.64 million. AllianceBernstein had a return on equity of 18.63% and a net margin of 8.35%.AllianceBernstein's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. On average, equities analysts anticipate that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Monday, August 4th. AllianceBernstein's dividend payout ratio (DPR) is currently 90.21%.

Institutional Trading of AllianceBernstein

Several large investors have recently made changes to their positions in the company. PFG Investments LLC acquired a new position in shares of AllianceBernstein in the 1st quarter valued at $228,000. Jump Financial LLC boosted its holdings in AllianceBernstein by 238.9% in the 1st quarter. Jump Financial LLC now owns 100,318 shares of the asset manager's stock valued at $3,843,000 after purchasing an additional 70,718 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of AllianceBernstein by 360.6% in the 1st quarter. Farther Finance Advisors LLC now owns 6,913 shares of the asset manager's stock valued at $266,000 after buying an additional 5,412 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of AllianceBernstein in the 1st quarter worth approximately $548,000. Finally, Capital Advisory Group Advisory Services LLC increased its position in AllianceBernstein by 28.0% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 55,856 shares of the asset manager's stock worth $2,140,000 after buying an additional 12,225 shares in the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Company Profile

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.