AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Rating of “Moderate Buy” by Analysts

AllianceBernstein Holding L.P. (NYSE:AB) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.20.

AB has been the topic of a number of recent research reports. The Goldman Sachs Group increased 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. Evercore ISI increased their price target on AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. TD Cowen increased their price target on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Barclays increased their price target on AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th.

AllianceBernstein Stock Up 0.2 %

Shares of AllianceBernstein stock opened at $37.91 on Friday. The stock’s fifty day moving average is $34.95 and its two-hundred day moving average is $34.06. The company has a market capitalization of $4.37 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. AllianceBernstein has a 52 week low of $25.83 and a 52 week high of $38.96.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $807.42 million. During the same quarter in the prior year, the company earned $0.61 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that AllianceBernstein will post 3.02 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend was Monday, August 5th. AllianceBernstein’s dividend payout ratio (DPR) is currently 117.84%.

Insider Buying and Selling at AllianceBernstein

In other AllianceBernstein news, insider Equitable Holdings, Inc. purchased 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the purchase, the insider now owns 3,066,838 shares in the company, valued at $104,824,522.84. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $903,935.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Equitable Holdings, Inc. acquired 500,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the acquisition, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This trade 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 company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AB. Virtu Financial LLC acquired a new position in shares of AllianceBernstein in the fourth quarter valued at about $230,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of AllianceBernstein by 79.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 20,034 shares of the asset manager’s stock valued at $622,000 after purchasing an additional 8,851 shares during the period. Mather Group LLC. acquired a new position in shares of AllianceBernstein in the first quarter valued at about $54,000. KMG Fiduciary Partners LLC increased its holdings in shares of AllianceBernstein by 4.5% in the first quarter. KMG Fiduciary Partners LLC now owns 41,912 shares of the asset manager’s stock valued at $1,456,000 after purchasing an additional 1,807 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in shares of AllianceBernstein in the first quarter valued at about $42,000. 19.25% of the stock is owned by institutional investors and hedge funds.

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.