AllianceBernstein Holding L.P. (NYSE:AB) Receives Average Recommendation of “Hold” from Analysts

AllianceBernstein Holding L.P. (NYSE:AB) has earned an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.67.

Several equities research analysts have recently weighed in on the company. Barclays raised their target price on AllianceBernstein from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Evercore ISI cut their target price on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Bank of America lowered AllianceBernstein from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. Sanford C. Bernstein lowered AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research report on Thursday, April 3rd. Finally, Wall Street Zen raised AllianceBernstein from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th.

AllianceBernstein Stock Performance

Shares of AB opened at $39.92 on Tuesday. The stock has a 50-day simple moving average of $38.53 and a 200-day simple moving average of $37.60. The stock has a market capitalization of $4.42 billion, a PE ratio of 10.73, a PEG ratio of 0.78 and a beta of 0.85. AllianceBernstein has a 1 year low of $30.57 and a 1 year high of $41.86.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Thursday, April 24th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. The business had revenue of $838.21 million during the quarter, compared to analysts’ expectations of $859.36 million. During the same quarter last year, the business posted $0.73 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts predict that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 5th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 8.02%. The ex-dividend date of this dividend was Monday, May 5th. AllianceBernstein’s dividend payout ratio (DPR) is 86.02%.

Insiders Place Their Bets

In other news, Director Charles G.T. Stonehill sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $41.18, for a total value of $205,900.00. Following the transaction, the director now owns 20,923 shares of the company’s stock, valued at approximately $861,609.14. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel G. Kaye sold 4,825 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $40.80, for a total value of $196,860.00. Following the completion of the transaction, the director now directly owns 39,877 shares in the company, valued at approximately $1,626,981.60. The trade was a 10.79% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC increased its holdings in shares of AllianceBernstein by 4.6% in the first quarter. Kestra Private Wealth Services LLC now owns 5,904 shares of the asset manager’s stock valued at $226,000 after purchasing an additional 257 shares during the period. Joel Isaacson & Co. LLC increased its holdings in shares of AllianceBernstein by 2.8% in the first quarter. Joel Isaacson & Co. LLC now owns 10,177 shares of the asset manager’s stock valued at $390,000 after purchasing an additional 281 shares during the period. Cary Street Partners Financial LLC increased its holdings in shares of AllianceBernstein by 3.9% in the first quarter. Cary Street Partners Financial LLC now owns 7,792 shares of the asset manager’s stock valued at $298,000 after purchasing an additional 293 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of AllianceBernstein by 19.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,929 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 319 shares during the period. Finally, Jump Financial LLC increased its holdings in shares of AllianceBernstein by 1.5% in the fourth quarter. Jump Financial LLC now owns 29,600 shares of the asset manager’s stock valued at $1,098,000 after purchasing an additional 427 shares during the period. Institutional investors and hedge funds own 19.25% of the company’s stock.

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.