AllianceBernstein (AB) to Release Quarterly Earnings on Thursday

AllianceBernstein (NYSE:AB) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

AllianceBernstein (NYSE:AB) last posted its earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $807.42 million. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.81%. AllianceBernstein’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AllianceBernstein Stock Down 2.1 %

Shares of AB stock opened at $37.87 on Tuesday. The company’s fifty day simple moving average is $34.87 and its two-hundred day simple moving average is $34.03. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $38.96. The stock has a market cap of $4.36 billion, a P/E ratio of 15.71, a PEG ratio of 0.66 and a beta of 1.24.

AllianceBernstein Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a $0.71 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.50%. AllianceBernstein’s dividend payout ratio is currently 117.84%.

Insider Buying and Selling at AllianceBernstein

In other news, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the sale, the director now directly owns 25,923 shares in the company, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the transaction, the director now directly owns 25,923 shares in the company, valued at $903,935.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Equitable Holdings, Inc. purchased 500,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the purchase, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays lifted their price objective on AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Evercore ISI upped their target price on shares of AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen increased their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

About AllianceBernstein

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.