AllianceBernstein Holding L.P. (NYSE:AB) to Issue Quarterly Dividend of $0.77

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Monday, November 4th will be given a dividend of 0.77 per share by the asset manager on Thursday, November 21st. This represents a $3.08 annualized dividend and a yield of 8.02%. The ex-dividend date is Monday, November 4th. This is an increase from AllianceBernstein's previous quarterly dividend of $0.71.

AllianceBernstein has decreased its dividend by an average of 2.1% per year over the last three years. AllianceBernstein has a payout ratio of 78.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect AllianceBernstein to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 79.3%.

AllianceBernstein Stock Up 0.1 %

AllianceBernstein stock traded up $0.04 during mid-day trading on Friday, reaching $38.40. 433,325 shares of the company's stock were exchanged, compared to its average volume of 295,102. The business's fifty day simple moving average is $35.10 and its 200 day simple moving average is $34.11. AllianceBernstein has a one year low of $25.83 and a one year high of $38.96. The firm has a market capitalization of $4.42 billion, a PE ratio of 15.88, a P/E/G ratio of 0.66 and a beta of 1.24.

AllianceBernstein (NYSE:AB - Get Free Report) last issued 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. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $807.42 million. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.81%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. On average, sell-side analysts forecast that AllianceBernstein will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on AB shares. The Goldman Sachs Group upped their price objective on AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Barclays upped their price target on AllianceBernstein from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Friday. Evercore ISI boosted their price objective on AllianceBernstein from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Finally, TD Cowen boosted their target price on shares of AllianceBernstein from $36.00 to $39.00 and gave the company a "buy" rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.80.

Insiders Place Their Bets

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction that occurred on 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 $903,935.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Hogbin sold 12,781 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $34.87, for a total value of $445,673.47. Following the completion of the sale, the insider now owns 10,000 shares of the company's stock, valued at approximately $348,700. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

About AllianceBernstein

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.