AllianceBernstein Holding L.P. (NYSE:AB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $42.40.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC bought a new stake in AllianceBernstein during the second quarter worth approximately $253,000. Essex Financial Services Inc. purchased a new stake in AllianceBernstein during the 2nd quarter valued at $236,000. Larson Financial Group LLC bought a new stake in AllianceBernstein in the second quarter worth $51,000. First Foundation Advisors boosted its stake in AllianceBernstein by 14.7% during the second quarter. First Foundation Advisors now owns 58,450 shares of the asset manager’s stock worth $1,975,000 after buying an additional 7,500 shares during the period. Finally, American Century Companies Inc. increased its position in AllianceBernstein by 8.9% during 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 acquiring an additional 234,253 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Stock Down 2.5 %

AB stock opened at $36.18 on Wednesday. The business’s 50-day moving average price is $36.49 and its 200-day moving average price is $35.31. The stock has a market cap of $4.17 billion, a P/E ratio of 10.37, a PEG ratio of 0.83 and a beta of 1.20. AllianceBernstein has a twelve month low of $30.57 and a twelve month high of $38.96.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 4th were paid a dividend of $0.77 per share. The ex-dividend date was Monday, November 4th. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a yield of 8.51%. AllianceBernstein’s dividend payout ratio is presently 88.25%.

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.