AllianceBernstein Holding L.P. (NYSE:AB) Stock Has Average Price Target of $36.50

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.50.

Several analysts have commented on AB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a research report on Friday, October 30th. Barclays reduced their price target on AllianceBernstein from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. TD Cowen reduced their price target on AllianceBernstein from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, October 28th. Evercore set a $39.00 price objective on AllianceBernstein in a research note on Friday, July 10th. Finally, Sanford C. Bernstein reiterated a “hold” rating and issued a $35.00 price objective on shares of AllianceBernstein in a report on Wednesday, October 28th.

AllianceBernstein Price Performance

AB opened at $34.90 on Tuesday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.34 and a beta of 0.74. The firm has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $37.44. AllianceBernstein has a fifty-two week low of $33.90 and a fifty-two week high of $44.11.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Tuesday, October 27th. The asset manager reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. AllianceBernstein had a net margin of 6.47% and a return on equity of 25.97%. The business had revenue of $904.25 million for the quarter, compared to analyst estimates of $913.82 million. During the same period in the prior year, the business posted $0.86 earnings per share. AllianceBernstein’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that AllianceBernstein will post 3.45 EPS for the current year.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 10.1%. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.82. The ex-dividend date is Friday, November 6th. AllianceBernstein’s dividend payout ratio (DPR) is 97.04%.

Hedge Funds Weigh In On AllianceBernstein

Several institutional investors have recently modified their holdings of AB. State of Wyoming grew its holdings in shares of AllianceBernstein by 10.3% in the 3rd quarter. State of Wyoming now owns 3,864 shares of the asset manager’s stock valued at $135,000 after buying an additional 362 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of AllianceBernstein by 2.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,971 shares of the asset manager’s stock valued at $598,000 after buying an additional 395 shares in the last quarter. Vivaldi Capital Management LP increased its position in shares of AllianceBernstein by 4.8% in the 1st quarter. Vivaldi Capital Management LP now owns 9,048 shares of the asset manager’s stock valued at $339,000 after buying an additional 418 shares in the last quarter. Jeppson Wealth Management LLC increased its position in shares of AllianceBernstein by 5.6% in the 2nd quarter. Jeppson Wealth Management LLC now owns 8,553 shares of the asset manager’s stock valued at $301,000 after buying an additional 450 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in AllianceBernstein by 4.4% during the 3rd quarter. Integrated Advisors Network LLC now owns 11,859 shares of the asset manager’s stock worth $414,000 after buying an additional 500 shares during the period. 19.25% of the stock is currently owned by institutional investors and hedge funds.

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 equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.