AllianceBernstein Holding L.P. (NYSE:AB) Increases Dividend to $0.96 Per Share

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Thursday, February 5th. Shareholders of record on Friday, February 20th will be given a dividend of 0.96 per share by the asset manager on Thursday, March 12th. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Friday, February 20th. This is a 11.6% increase from AllianceBernstein’s previous quarterly dividend of $0.86.

AllianceBernstein has increased its dividend by an average of 0.1%annually over the last three years. AllianceBernstein has a dividend payout ratio of 97.5% meaning 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 $4.01 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 85.8%.

AllianceBernstein Stock Down 0.7%

NYSE:AB traded down $0.29 on Thursday, reaching $42.16. The company’s stock had a trading volume of 807,494 shares, compared to its average volume of 456,470. AllianceBernstein has a 12-month low of $32.28 and a 12-month high of $44.11. The stock has a 50 day moving average price of $40.18 and a 200 day moving average price of $39.80. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.20 and a beta of 0.87.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $957.31 million during the quarter, compared to analysts’ expectations of $956.45 million. AllianceBernstein had a return on equity of 20.56% and a net margin of 7.09%.The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Equities research analysts expect that AllianceBernstein will post 3.58 EPS for the current fiscal year.

Institutional Trading of AllianceBernstein

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in AllianceBernstein by 51.8% in the first quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after purchasing an additional 312,878 shares during the period. Focus Partners Wealth raised its position in AllianceBernstein by 43.5% in the 1st quarter. Focus Partners Wealth now owns 27,375 shares of the asset manager’s stock valued at $1,049,000 after purchasing an additional 8,304 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of AllianceBernstein by 0.8% in the 2nd quarter. DAVENPORT & Co LLC now owns 37,022 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 300 shares during the period. Tyche Wealth Partners LLC purchased a new position in shares of AllianceBernstein in the 2nd quarter valued at about $204,000. Finally, Apollon Wealth Management LLC grew its position in shares of AllianceBernstein by 24.9% during the second quarter. Apollon Wealth Management LLC now owns 25,635 shares of the asset manager’s stock worth $1,047,000 after buying an additional 5,107 shares in the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.