AllianceBernstein Holding L.P. (NYSE:AB) Announces Quarterly Dividend of $0.73

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.73 per share by the asset manager on Thursday, May 23rd. This represents a $2.92 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend is Friday, May 3rd.

AllianceBernstein has decreased its dividend payment by an average of 2.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. AllianceBernstein has a dividend payout ratio of 86.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect AllianceBernstein to earn $3.56 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 86.5%.

AllianceBernstein Trading Down 0.4 %

NYSE AB traded down $0.15 during trading on Friday, hitting $33.56. 609,313 shares of the company traded hands, compared to its average volume of 305,441. AllianceBernstein has a 12 month low of $25.83 and a 12 month high of $35.84. The business has a fifty day simple moving average of $33.63 and a 200 day simple moving average of $31.68. The company has a market capitalization of $3.84 billion, a P/E ratio of 13.93, a PEG ratio of 0.65 and a beta of 1.25.

AllianceBernstein (NYSE:AB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $857.85 million. AllianceBernstein had a return on equity of 15.34% and a net margin of 6.47%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Equities research analysts predict that AllianceBernstein will post 3.06 EPS for the current fiscal year.

Analysts Set New Price Targets

AB has been the topic of a number of recent research reports. Evercore ISI reaffirmed a "buy" rating and set a $38.00 price objective on shares of AllianceBernstein in a report on Tuesday, March 12th. TD Cowen reaffirmed a "buy" rating and set a $40.00 price objective on shares of AllianceBernstein in a report on Tuesday, April 9th. Finally, TheStreet raised AllianceBernstein from a "c" rating to a "b-" rating in a report on Friday, March 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.44.

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.