Citigroup Inc. downgraded shares of AllianceBernstein Holding LP (NYSE:AB) from a buy rating to a neutral rating in a report released on Tuesday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of AllianceBernstein Holding from a hold rating to a sell rating in a research note on Wednesday, August 10th. Keefe, Bruyette & Woods set a $24.00 target price on shares of AllianceBernstein Holding and gave the company a hold rating in a research note on Saturday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $25.76.

Analyst Recommendations for AllianceBernstein Holding (NYSE:AB)

AllianceBernstein Holding (NYSE:AB) opened at 23.70 on Tuesday. AllianceBernstein Holding has a 12 month low of $16.11 and a 12 month high of $26.06. The stock has a market capitalization of $2.25 billion, a P/E ratio of 11.73 and a beta of 1.52. The company’s 50-day moving average is $22.21 and its 200-day moving average is $22.62.

AllianceBernstein Holding (NYSE:AB) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. AllianceBernstein Holding had a net margin of 13.27% and a return on equity of 23.92%. The firm had revenue of $767.60 million for the quarter, compared to analyst estimates of $695.26 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that AllianceBernstein Holding will post $1.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were issued a dividend of $0.45 per share. This is an increase from AllianceBernstein Holding’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 7.59%. The ex-dividend date was Thursday, November 3rd. AllianceBernstein Holding’s dividend payout ratio (DPR) is 89.11%.

Several hedge funds have recently bought and sold shares of the stock. ING Groep NV increased its stake in AllianceBernstein Holding by 22.2% in the second quarter. ING Groep NV now owns 110,000 shares of the company’s stock worth $2,563,000 after buying an additional 20,000 shares during the period. Sadoff Investment Management LLC increased its stake in AllianceBernstein Holding by 2.4% in the third quarter. Sadoff Investment Management LLC now owns 236,800 shares of the company’s stock worth $5,399,000 after buying an additional 5,450 shares during the period. NN Investment Partners Holdings N.V. increased its stake in AllianceBernstein Holding by 2.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 277,000 shares of the company’s stock worth $6,454,000 after buying an additional 7,200 shares during the period. Diligent Investors LLC increased its stake in AllianceBernstein Holding by 6.7% in the second quarter. Diligent Investors LLC now owns 12,694 shares of the company’s stock worth $296,000 after buying an additional 794 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in AllianceBernstein Holding by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,430 shares of the company’s stock worth $453,000 after buying an additional 380 shares during the period. Institutional investors own 27.20% of the company’s stock.

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About AllianceBernstein Holding

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.

5 Day Chart for NYSE:AB

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