AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $0.83 on May 21st

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, May 8th will be paid a dividend of 0.83 per share by the asset manager on Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Friday, May 8th.

AllianceBernstein has increased its dividend by an average of 0.0%annually over the last three years. AllianceBernstein has a dividend payout ratio of 94.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect AllianceBernstein to earn $3.85 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 86.2%.

AllianceBernstein Stock Up 2.4%

Shares of AB stock opened at $40.37 on Wednesday. The company has a 50 day moving average price of $38.34 and a 200-day moving average price of $39.45. AllianceBernstein has a 52 week low of $35.59 and a 52 week high of $44.11. The firm has a market capitalization of $3.72 billion, a PE ratio of 12.42, a P/E/G ratio of 1.86 and a beta of 0.83.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). AllianceBernstein had a return on equity of 23.11% and a net margin of 6.69%.The company had revenue of $871.14 million during the quarter, compared to the consensus estimate of $894.70 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that AllianceBernstein will post 3.46 earnings per share for the current year.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.