AllianceBernstein Holding L.P. (NYSE:AB) Stock Has Consensus Price Target of $36.50 According to Brokerages

Key Points

• Brokerage consensus is “Hold” for AllianceBernstein, with five hold ratings and one buy rating; the average 12-month price target is $36.50.
• AllianceBernstein reported quarterly EPS of $0.88, exceeding estimates of $0.86, while revenue rose 7.8% year over year to $904.25 million but fell short of expectations.
• The company increased its quarterly dividend to $0.88 per share, representing an annualized payout of $3.52 and a 10.0% yield.

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have received a consensus recommendation of "Hold" from the six brokerages that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.50.

A number of equities research analysts have issued reports on AB shares. Weiss Ratings reiterated a "hold (c)" rating on shares of AllianceBernstein in a research note on Friday. Barclays decreased their target price on shares of AllianceBernstein from $39.00 to $37.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 14th. Evercore set a $39.00 target price on shares of AllianceBernstein in a research report on Friday, July 10th. TD Cowen dropped their target price on shares of AllianceBernstein from $36.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, October 28th. Finally, Sanford C. Bernstein reaffirmed a "hold" rating and set a $35.00 price target on shares of AllianceBernstein in a report on Wednesday, October 28th.

AllianceBernstein Stock Performance

AB opened at $35.09 on Tuesday. The firm has a market cap of $3.27 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 1.17 and a beta of 0.79. AllianceBernstein has a 52-week low of $33.90 and a 52-week high of $44.11. The business's fifty day moving average is $35.63 and its 200-day moving average is $37.51.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. The company had revenue of $904.25 million for the quarter, compared to analysts' expectations of $913.82 million. AllianceBernstein had a return on equity of 25.75% and a net margin of 6.47%. AllianceBernstein's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. On average, research analysts predict that AllianceBernstein will post 3.45 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be given a dividend of $0.88 per share. This is an increase from AllianceBernstein's previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 10.0%. The ex-dividend date is Friday, November 6th. AllianceBernstein's dividend payout ratio (DPR) is presently 97.04%.

Institutional Investors Weigh In On AllianceBernstein

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in shares of AllianceBernstein in the second quarter valued at approximately $1,908,000. SMH Capital Advisors Inc. purchased a new stake in AllianceBernstein in the 2nd quarter valued at $395,000. Bank of America Corp DE bought a new position in AllianceBernstein during the 2nd quarter valued at $522,000. Ameritas Advisory Services LLC bought a new position in AllianceBernstein during the 2nd quarter valued at $762,000. Finally, Kestra Advisory Services LLC boosted its holdings in AllianceBernstein by 114.6% during the 1st quarter. Kestra Advisory Services LLC now owns 74,211 shares of the asset manager's stock worth $2,778,000 after acquiring an additional 39,636 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors.

About AllianceBernstein

AllianceBernstein Holding L.P. NYSE: AB is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.

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