AllianceBernstein Holding L.P. (NYSE:AB) Raises Dividend to $0.88 Per Share

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Friday, November 6th will be given a dividend of $0.88 per share by the asset manager on Thursday, November 19th. This represents a $3.52 annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend is Friday, November 6th. This is a 7.3% increase from AllianceBernstein’s previous quarterly dividend of $0.82.

AllianceBernstein has a dividend 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. Equities analysts expect AllianceBernstein to earn $3.78 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 86.8%.

AllianceBernstein Price Performance

NYSE:AB traded up $0.03 during trading hours on Tuesday, reaching $35.31. The company’s stock had a trading volume of 165,590 shares, compared to its average volume of 336,060. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.17 and a beta of 0.79. AllianceBernstein has a one year low of $33.90 and a one year high of $44.11. The business’s 50-day moving average is $35.74 and its 200-day moving average is $37.59.

AllianceBernstein (NYSE:AB) last posted its earnings results on Tuesday, October 27th. The asset manager reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. AllianceBernstein had a net margin of 6.60% and a return on equity of 25.94%. AllianceBernstein’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. On average, sell-side analysts predict that AllianceBernstein will post 3.45 EPS for the current fiscal year.

Key AllianceBernstein News

Here are the key news stories impacting AllianceBernstein this week:

• Positive Sentiment: Q3 earnings exceeded expectations: AllianceBernstein reported adjusted earnings of $0.88 per unit, ahead of the $0.86 consensus estimate and up from $0.86 a year earlier. GAAP net income was $0.79 per unit. Earnings Flash
• Positive Sentiment: Revenue increased 7.8% year over year: The growth indicates improving operating momentum for the asset manager. Management also reported a 6.60% net margin and 25.94% return on equity, while announcing a $0.88-per-unit cash distribution. AllianceBernstein Third-Quarter Results
• Neutral Sentiment: Investor attention is turning to the earnings call: The reported beat was modest, so investors will look for details on assets under management, fee trends, investment flows and the outlook for the next quarter. AllianceBernstein Earnings Preview
• Neutral Sentiment: AllianceBernstein’s research on water-related risks facing semiconductor manufacturers and the potential benefits of shorter-duration high-yield bonds highlights investment themes that could support client engagement, but neither article directly changes the company’s earnings outlook. Semiconductor Water Risks

About AllianceBernstein

AllianceBernstein Holding L.P. (NYSE:AB) is a global investment management and research firm serving institutional investors, retail clients and private-wealth customers. The company provides investment strategies and advisory services across equities, fixed income, multi-asset portfolios and alternative investments.

AllianceBernstein offers actively managed and customized portfolios, along with mutual funds, separately managed accounts, institutional mandates and other investment vehicles.