AllianceBernstein Holding L.P. (NYSE:AB) to Issue Dividend Increase - $0.86 Per Share

Key Points

• AllianceBernstein Holding L.P. has declared a quarterly dividend of $0.86 per share, which is a 13.2% increase from the previous dividend of $0.76, reflecting a dividend yield of 8.8%.
• The ex-dividend date is set for November 3rd, with the payment to shareholders scheduled for November 20th, 2024.
• AllianceBernstein reported $0.86 earnings per share for the quarter, slightly exceeding analysts' estimates, but with quarterly revenue of $884.67 million falling short of expectations.

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Shareholders of record on Monday, November 3rd will be paid a dividend of 0.86 per share by the asset manager on Thursday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Monday, November 3rd. This is a 13.2% increase from AllianceBernstein's previous quarterly dividend of $0.76.

AllianceBernstein has a payout ratio of 90.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect AllianceBernstein to earn $4.01 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 79.8%.

AllianceBernstein Stock Performance

Shares of NYSE AB traded down $0.07 during midday trading on Thursday, reaching $39.28. 96,615 shares of the company traded hands, compared to its average volume of 414,790. The firm has a market cap of $4.34 billion, a PE ratio of 11.66, a PEG ratio of 1.31 and a beta of 0.82. The stock's 50-day simple moving average is $38.96 and its 200-day simple moving average is $39.51. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $43.30.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Thursday, October 23rd. The asset manager reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.01. AllianceBernstein had a return on equity of 18.63% and a net margin of 8.35%.The company had revenue of $884.67 million during the quarter, compared to analyst estimates of $900.69 million. During the same period last year, the company posted $0.77 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that AllianceBernstein will post 3.58 EPS for the current year.

Hedge Funds Weigh In On AllianceBernstein

Several institutional investors have recently modified their holdings of AB. PFG Investments LLC bought a new position in AllianceBernstein during the 1st quarter worth about $228,000. Jump Financial LLC grew its holdings in shares of AllianceBernstein by 238.9% during the first quarter. Jump Financial LLC now owns 100,318 shares of the asset manager's stock worth $3,843,000 after buying an additional 70,718 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in AllianceBernstein in the 1st quarter valued at approximately $548,000. LPL Financial LLC raised its position in 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 buying an additional 9,628 shares during the last quarter. Finally, 683 Capital Management LLC bought a new stake in AllianceBernstein in the 1st quarter valued at approximately $20,144,000. 19.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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