Brokerages Set AllianceBernstein Holding L.P. (NYSE:AB) PT at $41.19

AllianceBernstein Holding L.P. (NYSE:AB) has been given a consensus rating of “Buy” by the four analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $41.19.

AB has been the subject of several analyst reports. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a report on Friday, March 8th. Bank of America decreased their price target on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a report on Monday, April 29th. TD Cowen lowered their price objective on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a report on Tuesday, March 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Securities Inc. purchased a new position in AllianceBernstein in the 4th quarter valued at about $26,000. GAMMA Investing LLC acquired a new position in shares of AllianceBernstein during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. purchased a new position in shares of AllianceBernstein in the first quarter valued at approximately $28,000. Register Financial Advisors LLC acquired a new stake in shares of AllianceBernstein in the first quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. increased its position in shares of AllianceBernstein by 198.7% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,428 shares of the asset manager’s stock worth $44,000 after purchasing an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Up 1.0 %

Shares of NYSE AB opened at $33.40 on Friday. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $35.43. The business’s 50 day moving average price is $33.32 and its 200 day moving average price is $32.98. The firm has a market cap of $3.85 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.76 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last released its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $884.18 million for the quarter, compared to analyst estimates of $900.60 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. As a group, research analysts expect that AllianceBernstein will post 2.96 earnings per share 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 given a dividend of $0.73 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.92 dividend on an annualized basis and a yield of 8.74%. AllianceBernstein’s dividend payout ratio is currently 121.16%.

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.