AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Recommendation of "Hold" by Brokerages

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) has received an average rating of "Hold" from the six analysts that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.17.

AB has been the subject of several recent analyst reports. TD Cowen reduced their price target on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a report on Wednesday. Sanford C. Bernstein downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research note on Thursday, April 3rd. Evercore ISI lowered their target price on AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday. Bank of America downgraded shares of AllianceBernstein from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $38.00 in a report on Thursday, April 3rd. Finally, Barclays reaffirmed an "equal weight" rating and issued a $34.00 price objective on shares of AllianceBernstein in a research report on Tuesday.

Hedge Funds Weigh In On AllianceBernstein

A number of large investors have recently modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of AllianceBernstein during the 4th quarter worth about $25,000. Luken Investment Analytics LLC purchased a new position in AllianceBernstein in the 4th quarter worth approximately $37,000. Summit Securities Group LLC acquired a new stake in AllianceBernstein during the 4th quarter valued at $41,000. Harbor Investment Advisory LLC acquired a new stake in shares of AllianceBernstein during the first quarter valued at about $48,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein during the fourth quarter worth about $61,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

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AllianceBernstein Stock Up 4.8 %

AB traded up $1.73 during trading on Monday, hitting $37.44. 546,439 shares of the stock were exchanged, compared to its average volume of 441,272. The firm has a market capitalization of $4.14 billion, a P/E ratio of 10.06, a PEG ratio of 0.78 and a beta of 0.97. AllianceBernstein has a 1-year low of $30.57 and a 1-year high of $41.37. The stock has a fifty day moving average price of $37.01 and a two-hundred day moving average price of $36.90.

AllianceBernstein (NYSE:AB - Get Free Report) last announced its earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Analysts predict that AllianceBernstein will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 11.22%. This is an increase from AllianceBernstein's previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, February 18th. AllianceBernstein's dividend payout ratio is presently 112.90%.

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.