AllianceBernstein Holding L.P. (NYSE:AB) Receives Average Rating of "Hold" from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) has been given an average recommendation of "Hold" by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.3333.

A number of research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of AllianceBernstein in a research report on Friday, September 5th. The Goldman Sachs Group downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $42.25 to $40.00 in a research note on Friday, June 27th. Barclays increased their price objective on AllianceBernstein from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Zacks Research lowered AllianceBernstein from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Evercore ISI cut their price target on AllianceBernstein from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Friday, September 5th.

Institutional Investors Weigh In On AllianceBernstein

Institutional investors and hedge funds have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC acquired a new position in AllianceBernstein during the second quarter worth $193,757,000. Goldman Sachs Group Inc. boosted its stake in shares of AllianceBernstein by 51.8% during 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 in the last quarter. 683 Capital Management LLC acquired a new position in shares of AllianceBernstein during the 1st quarter valued at about $20,144,000. LPL Financial LLC raised its stake in shares of AllianceBernstein by 2.6% in the 1st quarter. LPL Financial LLC now owns 380,837 shares of the asset manager's stock valued at $14,590,000 after acquiring an additional 9,628 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of AllianceBernstein by 45.1% in the 1st quarter. Invesco Ltd. now owns 325,018 shares of the asset manager's stock valued at $12,451,000 after acquiring an additional 101,041 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

AllianceBernstein Trading Down 0.6%

NYSE:AB opened at $37.85 on Monday. The business's fifty day moving average price is $39.81 and its 200 day moving average price is $39.44. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.44 and a beta of 0.84. AllianceBernstein has a 1-year low of $32.28 and a 1-year high of $43.30.

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

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were given 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 payout ratio is currently 90.21%.

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.

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