AllianceBernstein (NYSE:AB - Free Report) had its price target decreased by Evercore ISI from $41.00 to $38.00 in a research report released on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager's stock.
Other analysts have also recently issued research reports about the company. Sanford C. Bernstein cut AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 target price on the stock. in a report on Thursday, April 3rd. Barclays restated an "equal weight" rating and set a $34.00 target price on shares of AllianceBernstein in a research report on Tuesday, April 8th. Bank of America cut shares of AllianceBernstein from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. Finally, TD Cowen lowered their price objective on shares of AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, AllianceBernstein presently has a consensus rating of "Hold" and an average price target of $37.17.
View Our Latest Research Report on AllianceBernstein
AllianceBernstein Stock Down 1.7 %
AllianceBernstein stock traded down $0.64 on Friday, hitting $37.13. The company's stock had a trading volume of 378,569 shares, compared to its average volume of 441,019. The company has a fifty day moving average price of $36.97 and a 200-day moving average price of $36.94. AllianceBernstein has a one year low of $30.57 and a one year high of $41.37. The firm has a market cap of $4.10 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97.
AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Analysts anticipate that AllianceBernstein will post 3.58 EPS for the current year.
AllianceBernstein Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.20 dividend on an annualized basis and a yield of 11.31%. This is an increase from AllianceBernstein's previous quarterly dividend of $0.77. AllianceBernstein's dividend payout ratio is 112.90%.
Institutional Trading of AllianceBernstein
A number of hedge funds and other institutional investors have recently made changes to their positions in AB. Captrust Financial Advisors increased its stake in AllianceBernstein by 4.9% in the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager's stock valued at $265,000 after buying an additional 355 shares during the last quarter. Stifel Financial Corp increased its position in shares of AllianceBernstein by 2.6% in the third quarter. Stifel Financial Corp now owns 208,120 shares of the asset manager's stock valued at $7,261,000 after acquiring an additional 5,196 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in AllianceBernstein during the third quarter worth about $322,000. XTX Topco Ltd acquired a new position in AllianceBernstein during the third quarter valued at approximately $418,000. Finally, Sanctuary Advisors LLC grew its stake in AllianceBernstein by 3.0% in the third quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager's stock valued at $679,000 after purchasing an additional 549 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.
AllianceBernstein Company Profile
(
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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.
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