AllianceBernstein Holding L.P. (NYSE:AB) Receives Average Rating of “Moderate Buy” from Analysts

AllianceBernstein Holding L.P. (NYSE:AB) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $42.40.

Several equities research analysts have recently weighed in on the stock. Barclays decreased their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

AllianceBernstein Price Performance

Shares of AB stock opened at $37.71 on Wednesday. AllianceBernstein has a one year low of $30.57 and a one year high of $38.96. The business’s 50 day simple moving average is $36.54 and its 200 day simple moving average is $35.26. The stock has a market capitalization of $4.34 billion, a PE ratio of 10.81, a PEG ratio of 0.83 and a beta of 1.20.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were paid a $0.77 dividend. The ex-dividend date was Monday, November 4th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a dividend yield of 8.17%. AllianceBernstein’s dividend payout ratio (DPR) is currently 88.25%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in AllianceBernstein during the second quarter worth $253,000. Essex Financial Services Inc. acquired a new position in AllianceBernstein during the 2nd quarter valued at about $236,000. Larson Financial Group LLC bought a new stake in AllianceBernstein during the 2nd quarter worth approximately $51,000. First Foundation Advisors raised its stake in shares of AllianceBernstein by 14.7% in the second quarter. First Foundation Advisors now owns 58,450 shares of the asset manager’s stock worth $1,975,000 after purchasing an additional 7,500 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of AllianceBernstein by 8.9% in the second quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock valued at $97,090,000 after purchasing an additional 234,253 shares in the last quarter. 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.