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

Key Points

• AllianceBernstein has a consensus “Hold” rating: Five of seven analysts recommend holding the stock, while two rate it a buy. The average 12-month price target is $39.50, compared with a recent price of $36.20.
• The asset manager reported quarterly earnings of $0.82 per share, slightly below the $0.83 consensus estimate, while revenue of $887.55 million also missed expectations. Revenue nevertheless increased 7.5% year over year.
• AllianceBernstein declared a quarterly dividend of $0.82, implying an annualized yield of approximately 9.1%; however, its payout ratio is high at 97.04%. A company director also sold 5,000 shares in early August.

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have earned an average rating of "Hold" from the seven analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.50.

Several analysts have recently commented on the stock. Zacks Research raised shares of AllianceBernstein from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Evercore set a $39.00 target price on shares of AllianceBernstein in a report on Friday, July 10th. Weiss Ratings downgraded shares of AllianceBernstein from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of AllianceBernstein in a report on Friday, July 10th. Finally, Barclays cut 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.

AllianceBernstein Stock Up 0.0%

AllianceBernstein stock opened at $36.20 on Thursday. The stock has a 50-day moving average price of $36.69 and a 200 day moving average price of $37.97. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.80. AllianceBernstein has a 52 week low of $34.92 and a 52 week high of $44.11.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%.The business had revenue of $887.55 million during the quarter, compared to analyst estimates of $907.67 million. During the same quarter last year, the company posted $0.76 EPS. AllianceBernstein's quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts anticipate that AllianceBernstein will post 3.48 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 12th will be paid a $0.82 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 9.1%. AllianceBernstein's dividend payout ratio is presently 97.04%.

Insider Buying and Selling

In related news, Director Charles G.T. Stonehill sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total transaction of $185,850.00. Following the sale, the director directly owned 24,573 shares of the company's stock, valued at $913,378.41. This trade represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AllianceBernstein

Several hedge funds have recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of AllianceBernstein during the 4th quarter worth approximately $28,000. Axiom Investment Management LLC acquired a new position in shares of AllianceBernstein in the 1st quarter valued at $28,000. Russell Investments Group Ltd. acquired a new position in shares of AllianceBernstein in the 2nd quarter valued at $28,000. Fifth Third Bancorp purchased a new stake in AllianceBernstein during the second quarter worth $29,000. Finally, Ascentis Independent Advisors purchased a new stake in AllianceBernstein during the first quarter worth $30,000. Hedge funds and other institutional investors own 19.25% of the company's stock.

AllianceBernstein Company Profile

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.

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