AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Recommendation of “Buy” by Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been given an average rating of “Buy” by the four research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $41.19.

AB has been the subject of a number of recent research reports. TD Cowen cut their price objective on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Evercore ISI reiterated a “buy” rating and set a $38.00 price objective on shares of AllianceBernstein in a research note on Tuesday, March 12th. Bank of America cut their price objective on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

AllianceBernstein Stock Up 1.1 %

NYSE AB opened at $33.74 on Tuesday. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $35.84. The firm has a market capitalization of $3.89 billion, a P/E ratio of 14.00, a PEG ratio of 0.76 and a beta of 1.25. The company has a 50-day moving average price of $33.66 and a 200-day moving average price of $32.27.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The firm had revenue of $884.18 million during the quarter, compared to analyst estimates of $900.60 million. As a group, equities research analysts anticipate that AllianceBernstein will post 2.96 EPS for the current year.

AllianceBernstein Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 6th were paid a $0.73 dividend. The ex-dividend date was Friday, May 3rd. This represents a $2.92 annualized dividend and a yield of 8.65%. AllianceBernstein’s payout ratio is 121.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in shares of AllianceBernstein during the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of AllianceBernstein during the 4th quarter worth approximately $27,000. Geneos Wealth Management Inc. purchased a new stake in shares of AllianceBernstein during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new stake in shares of AllianceBernstein during the 1st quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. raised its holdings in shares of AllianceBernstein by 198.7% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager’s stock worth $44,000 after acquiring an additional 950 shares in the last quarter. 19.25% of the stock is currently 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.