AllianceBernstein Holding LP (AB) Receives $25.58 Average Price Target from Analysts
Shares of AllianceBernstein Holding LP (NYSE:AB) have been assigned a consensus rating of “Hold” from the nine research firms that are covering the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $25.58.
Several equities research analysts have weighed in on the company. Zacks Investment Research lowered AllianceBernstein Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Citigroup Inc. lowered their price target on AllianceBernstein Holding from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods set a $24.00 price target on AllianceBernstein Holding and gave the company a “hold” rating in a report on Saturday, October 15th.
AllianceBernstein Holding (NYSE:AB) opened at 23.10 on Thursday. The company’s 50 day moving average price is $22.03 and its 200 day moving average price is $22.63. The firm has a market capitalization of $2.19 billion, a P/E ratio of 11.43 and a beta of 1.52. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $26.24.
AllianceBernstein Holding (NYSE:AB) last issued its earnings results on Wednesday, October 26th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. AllianceBernstein Holding had a return on equity of 23.92% and a net margin of 13.27%. The firm had revenue of $767.60 million for the quarter, compared to analyst estimates of $695.26 million. During the same period last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that AllianceBernstein Holding will post $1.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Monday, November 7th will be given a $0.45 dividend. This is a positive change from AllianceBernstein Holding’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.80 annualized dividend and a yield of 7.79%. AllianceBernstein Holding’s payout ratio is 89.11%.
Large investors have recently added to or reduced their stakes in the company. Chemical Bank raised its stake in AllianceBernstein Holding by 8.3% in the third quarter. Chemical Bank now owns 14,400 shares of the company’s stock valued at $328,000 after buying an additional 1,100 shares in the last quarter. People s United Financial Inc. raised its stake in AllianceBernstein Holding by 4.6% in the third quarter. People s United Financial Inc. now owns 14,855 shares of the company’s stock valued at $339,000 after buying an additional 657 shares in the last quarter. Advisor Group Inc. raised its stake in AllianceBernstein Holding by 6.6% in the third quarter. Advisor Group Inc. now owns 16,632 shares of the company’s stock valued at $380,000 after buying an additional 1,037 shares in the last quarter. Meritage Portfolio Management raised its stake in AllianceBernstein Holding by 34.6% in the third quarter. Meritage Portfolio Management now owns 179,770 shares of the company’s stock valued at $4,099,000 after buying an additional 46,240 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in AllianceBernstein Holding by 102.7% in the third quarter. Ameriprise Financial Inc. now owns 61,271 shares of the company’s stock valued at $1,397,000 after buying an additional 31,041 shares in the last quarter. 26.28% of the stock is owned by institutional investors and hedge funds.
AllianceBernstein Holding Company Profile
AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services.
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