AllianceBernstein Holding L.P. (AB) to Distribute Quarterly Dividend of $0.82 on August 27th

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Wednesday, August 12th will be given a dividend of 0.82 per share by the asset manager on Thursday, August 27th. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Wednesday, August 12th.

AllianceBernstein has increased its dividend by an average of 0.0%per year over the last three years. AllianceBernstein has a payout ratio of 92.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect AllianceBernstein to earn $3.85 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 85.2%.

AllianceBernstein Trading Up 0.0%

Shares of AB opened at $37.12 on Monday. The stock has a market cap of $3.46 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80. AllianceBernstein has a 1 year low of $34.92 and a 1 year high of $44.11. The stock’s 50-day moving average price is $36.76 and its two-hundred day moving average price is $38.21.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). AllianceBernstein had a return on equity of 25.94% and a net margin of 6.60%.The firm had revenue of $887.55 million for the quarter, compared to the consensus estimate of $907.67 million. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts forecast that AllianceBernstein will post 3.48 EPS for the current year.

Insider Activity

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 5,000 shares of AllianceBernstein stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $37.17, for a total value of $185,850.00. Following the sale, the director owned 24,573 shares of the company’s stock, valued at $913,378.41. This trade represents a 16.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in AllianceBernstein by 17,664.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,640,896 shares of the asset manager’s stock worth $140,102,000 after acquiring an additional 3,620,401 shares in the last quarter. Morgan Stanley grew its position in shares of AllianceBernstein by 79.2% in the 4th quarter. Morgan Stanley now owns 1,412,548 shares of the asset manager’s stock valued at $54,355,000 after acquiring an additional 624,270 shares during the period. Goldman Sachs Group Inc. grew its position in shares of AllianceBernstein by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 916,574 shares of the asset manager’s stock valued at $35,114,000 after acquiring an additional 312,878 shares during the period. Focus Partners Wealth increased its stake in shares of AllianceBernstein by 1,154.2% during the 3rd quarter. Focus Partners Wealth now owns 336,502 shares of the asset manager’s stock worth $12,861,000 after purchasing an additional 309,673 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in shares of AllianceBernstein by 1,243.9% during the 4th quarter. Crestwood Advisors Group LLC now owns 218,727 shares of the asset manager’s stock worth $8,417,000 after purchasing an additional 202,451 shares during the last quarter. 19.25% of the stock is currently owned by institutional investors.

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.