AllianceBernstein Holding L.P. (AB) – What Are Brokerages Saying About This Stock?

AllianceBernstein Holding L.P. (NYSE:AB) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.38.

A number of equities analysts have recently issued reports on AB shares. TD Cowen dropped their price target on AllianceBernstein from $38.00 to $36.00 and set a “hold” rating on the stock in a research report on Monday. Weiss Ratings downgraded AllianceBernstein from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of AllianceBernstein in a research note on Friday. Evercore set a $39.00 target price on shares of AllianceBernstein in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of AllianceBernstein from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th.

AllianceBernstein Trading Down 1.4%

Shares of AB opened at $34.21 on Friday. The firm has a fifty day moving average price of $36.12 and a 200-day moving average price of $37.03. The firm has a market capitalization of $3.18 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.13 and a beta of 0.79. AllianceBernstein has a 12-month low of $33.95 and a 12-month high of $44.11.

AllianceBernstein (NYSE:AB) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $887.55 million during the quarter, compared to the consensus estimate of $907.67 million. AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%. AllianceBernstein’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. Analysts predict that AllianceBernstein will post 3.46 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.82 per share. This is a drop from AllianceBernstein’s previous quarterly dividend of $0.83. This represents a $3.28 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date was Wednesday, August 12th. AllianceBernstein’s payout ratio is 97.04%.

Insider Transactions at AllianceBernstein

In related news, Director Charles Stonehill sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $37.17, for a total value of $185,850.00. Following the completion of the transaction, the director owned 24,573 shares of the company’s stock, valued at $913,378.41. The trade was a 16.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AllianceBernstein

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in AllianceBernstein by 3.3% during the first quarter. Cetera Investment Advisers now owns 156,695 shares of the asset manager’s stock valued at $5,867,000 after acquiring an additional 5,075 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of AllianceBernstein by 5.8% during the first quarter. Royal Bank of Canada now owns 115,126 shares of the asset manager’s stock valued at $4,311,000 after acquiring an additional 6,263 shares in the last quarter. Kestra Advisory Services LLC increased its stake in AllianceBernstein by 114.6% during the 1st quarter. Kestra Advisory Services LLC now owns 74,211 shares of the asset manager’s stock valued at $2,778,000 after purchasing an additional 39,636 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of AllianceBernstein by 26.3% in the second quarter. Corient Private Wealth LP now owns 56,019 shares of the asset manager’s stock worth $1,973,000 after buying an additional 11,676 shares during the last quarter. Finally, Parrish Capital LLC raised its holdings in shares of AllianceBernstein by 6.8% in the first quarter. Parrish Capital LLC now owns 52,152 shares of the asset manager’s stock worth $1,953,000 after buying an additional 3,304 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors.

AllianceBernstein Company Profile

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 public and private markets, including equities, fixed income, multi-asset portfolios, alternatives and sustainable investing.

AllianceBernstein’s offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and private-market solutions.