Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) PT at $40.44

AllianceBernstein Holding L.P. (NYSE:AB) has earned a consensus rating of “Buy” from the four analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $40.44.

A number of research firms have recently commented on AB. Evercore ISI reaffirmed a “buy” rating and set a $38.00 price objective on shares of AllianceBernstein in a report on Tuesday, March 12th. TD Cowen reaffirmed a “buy” rating and issued a $40.00 price target on shares of AllianceBernstein in a report on Tuesday, April 9th. Finally, TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th.

AllianceBernstein Price Performance

AB stock opened at $33.56 on Friday. The company has a 50-day moving average of $33.63 and a two-hundred day moving average of $31.69. AllianceBernstein has a 52-week low of $25.83 and a 52-week high of $35.84. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.34%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts expect that AllianceBernstein will post 3.06 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date of this dividend is Friday, May 3rd. AllianceBernstein’s dividend payout ratio (DPR) is currently 127.80%.

Hedge Funds Weigh In On AllianceBernstein

A number of hedge funds and other institutional investors have recently made changes to their positions in AB. Herold Advisors Inc. increased its stake in AllianceBernstein by 2.0% during the 4th quarter. Herold Advisors Inc. now owns 15,500 shares of the asset manager’s stock worth $481,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC raised its position in AllianceBernstein by 1.7% during the fourth quarter. Advisory Services Network LLC now owns 18,975 shares of the asset manager’s stock worth $589,000 after acquiring an additional 315 shares in the last quarter. Karpas Strategies LLC lifted its stake in AllianceBernstein by 2.2% in the 4th quarter. Karpas Strategies LLC now owns 18,110 shares of the asset manager’s stock valued at $562,000 after purchasing an additional 395 shares during the last quarter. Chilton Capital Management LLC increased its position in AllianceBernstein by 1.3% during the fourth quarter. Chilton Capital Management LLC now owns 34,540 shares of the asset manager’s stock worth $1,072,000 after buying an additional 448 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in AllianceBernstein by 7.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,014 shares of the asset manager’s stock valued at $249,000 after acquiring an additional 565 shares during the period. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.