AllianceBernstein Holding L.P. (NYSE:AB) to Issue Quarterly Dividend of $0.88

Key Points

• AllianceBernstein will pay a quarterly dividend of $0.88 per share on November 19 to shareholders of record as of November 6. The payment represents a 7.3% increase from the prior dividend, a $3.52 annualized payout and a 10.0% yield.
• The dividend has a high earnings payout ratio of 92.9%, though analysts expect next year’s earnings to cover the annualized dividend at an estimated 86.8% payout ratio.
• AllianceBernstein reported quarterly EPS of $0.88, beating estimates by $0.02, while revenue rose 7.8% year over year. Shares were trading near $35.31, well below their 12-month high of $44.11.

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Friday, November 6th will be paid a dividend of $0.88 per share by the asset manager on Thursday, November 19th. This represents a $3.52 annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend is Friday, November 6th. This is a 7.3% increase from AllianceBernstein's previous quarterly dividend of $0.82.

AllianceBernstein has a payout ratio of 92.9% 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 $3.78 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 86.8%.

AllianceBernstein Price Performance

AllianceBernstein stock traded up $0.03 during midday trading on Tuesday, reaching $35.31. The stock had a trading volume of 165,590 shares, compared to its average volume of 336,060. AllianceBernstein has a twelve month low of $33.90 and a twelve month high of $44.11. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.17 and a beta of 0.79. The firm's fifty day simple moving average is $35.74 and its two-hundred day simple moving average is $37.59.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Tuesday, October 27th. The asset manager reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. AllianceBernstein had a net margin of 6.60% and a return on equity of 25.94%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, sell-side analysts predict that AllianceBernstein will post 3.45 EPS for the current fiscal year.

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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