AllianceBernstein Holding L.P. (NYSE:AB) Receives $40.58 Average Target Price from Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have earned an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $38.33.

AB has been the subject of a number of analyst reports. Barclays reissued an “equal weight” rating and issued a $34.00 price objective on shares of AllianceBernstein in a research report on Tuesday. Bank of America downgraded AllianceBernstein from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. TD Cowen decreased their price objective on AllianceBernstein from $37.50 to $34.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein lowered AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, April 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AB. FMR LLC raised its holdings in shares of AllianceBernstein by 19.0% in the 4th quarter. FMR LLC now owns 3,110,304 shares of the asset manager’s stock worth $115,361,000 after purchasing an additional 496,923 shares during the period. JPMorgan Chase & Co. increased its position in AllianceBernstein by 18.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,899,762 shares of the asset manager’s stock worth $107,552,000 after purchasing an additional 445,398 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new position in AllianceBernstein in the fourth quarter valued at approximately $10,300,000. Four Tree Island Advisory LLC purchased a new position in AllianceBernstein in the fourth quarter valued at approximately $8,695,000. Finally, Invesco Ltd. acquired a new position in AllianceBernstein during the fourth quarter valued at approximately $8,307,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

AllianceBernstein stock opened at $35.84 on Monday. AllianceBernstein has a fifty-two week low of $30.57 and a fifty-two week high of $41.37. The stock has a fifty day moving average of $37.10 and a two-hundred day moving average of $36.88. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.78 and a beta of 0.97.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. On average, analysts forecast that AllianceBernstein will post 3.58 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a dividend yield of 11.72%. AllianceBernstein’s payout ratio is currently 112.90%.

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.