Analysts Set AllianceBernstein Holding L.P. (NYSE:AB) Price Target at $40.25

AllianceBernstein Holding L.P. (NYSE:AB) has received an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $39.9167.

A number of brokerages have weighed in on AB. Weiss Ratings downgraded AllianceBernstein from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Evercore set a $40.00 target price on AllianceBernstein in a research report on Monday. TD Cowen cut their target price on AllianceBernstein from $39.50 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Barclays cut their target price on AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of AllianceBernstein in a research report on Monday.

AllianceBernstein Stock Performance

AllianceBernstein stock opened at $36.95 on Friday. AllianceBernstein has a 52-week low of $35.59 and a 52-week high of $44.11. The firm has a 50 day moving average price of $38.24 and a two-hundred day moving average price of $39.14. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.74 and a beta of 0.80.

AllianceBernstein (NYSE:AB) last announced its earnings results on Tuesday, April 28th. The asset manager reported $0.83 earnings per share 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 firm had revenue of $871.14 million for the quarter, compared to the consensus estimate of $894.70 million. During the same period in the prior year, the business earned $0.80 EPS. AllianceBernstein’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that AllianceBernstein will post 3.46 EPS for the current fiscal year.

AllianceBernstein Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Friday, May 8th were given a dividend of $0.83 per share. The ex-dividend date was Friday, May 8th. This represents a $3.32 annualized dividend and a dividend yield of 9.0%. AllianceBernstein’s dividend payout ratio is presently 102.15%.

Institutional Investors Weigh In On AllianceBernstein

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its position in shares of AllianceBernstein by 2.5% during the 4th quarter. NewEdge Advisors LLC now owns 10,849 shares of the asset manager’s stock worth $417,000 after purchasing an additional 264 shares in the last quarter. Fortis Capital Advisors LLC raised its holdings in shares of AllianceBernstein by 3.6% in the 4th quarter. Fortis Capital Advisors LLC now owns 7,836 shares of the asset manager’s stock worth $302,000 after acquiring an additional 272 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of AllianceBernstein by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,841 shares of the asset manager’s stock worth $1,255,000 after acquiring an additional 273 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of AllianceBernstein by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,190 shares of the asset manager’s stock worth $504,000 after acquiring an additional 289 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in AllianceBernstein by 4.5% during the 3rd quarter. Allworth Financial LP now owns 6,915 shares of the asset manager’s stock valued at $264,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

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.