Brokerages Set AllianceBernstein Holding L.P. (NYSE:AB) Price Target at $41.20

Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have received a consensus rating of "Moderate Buy" from the five brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $41.20.

Several research firms recently issued reports on AB. Evercore ISI lifted their price target on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on AllianceBernstein from $40.75 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. TD Cowen boosted their price target on AllianceBernstein from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on AllianceBernstein from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Monday.

AllianceBernstein Stock Up 0.7 %

Shares of NYSE AB traded up $0.28 on Friday, hitting $38.69. The company had a trading volume of 270,646 shares, compared to its average volume of 293,492. AllianceBernstein has a 12-month low of $25.83 and a 12-month high of $38.96. The firm has a market capitalization of $4.46 billion, a P/E ratio of 16.05, a PEG ratio of 0.66 and a beta of 1.24. The business has a 50 day moving average of $34.78 and a two-hundred day moving average of $34.01.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 earnings per share 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 firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $807.42 million. During the same quarter in the prior year, the business earned $0.61 EPS. AllianceBernstein's quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AllianceBernstein will post 3.02 earnings per share for the current year.

AllianceBernstein Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 7.34%. AllianceBernstein's payout ratio is 117.84%.

Insider Activity

In related news, Director Charles G.T. Stonehill sold 4,000 shares of the firm's 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 transaction, the director now directly owns 25,923 shares in the company, valued at $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Equitable Holdings, Inc. bought 500,000 shares of the stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the acquisition, the insider now owns 3,066,838 shares of the company's stock, valued at $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On AllianceBernstein

Several large investors have recently made changes to their positions in AB. NBC Securities Inc. raised its holdings in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock worth $25,000 after purchasing an additional 329 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of AllianceBernstein in the first quarter valued at $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of AllianceBernstein during the 2nd quarter valued at $31,000. Register Financial Advisors LLC bought a new stake in shares of AllianceBernstein during the 1st quarter worth $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of AllianceBernstein by 1,354.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,454 shares of the asset manager's stock worth $49,000 after acquiring an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 19.25% of the company's stock.

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.