AllianceBernstein (NYSE:AB) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS

AllianceBernstein (NYSE:AB) issued its quarterly earnings results on Thursday. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18, Zacks reports. AllianceBernstein had a return on equity of 17.77% and a net margin of 9.46%.

AllianceBernstein Stock Performance

NYSE AB opened at $36.58 on Friday. AllianceBernstein has a one year low of $30.57 and a one year high of $41.37. The company has a market cap of $4.21 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.73 and a beta of 1.21. The business has a fifty day moving average price of $37.24 and a 200 day moving average price of $35.99.

AllianceBernstein Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a $1.05 dividend. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.20 annualized dividend and a dividend yield of 11.48%. AllianceBernstein’s dividend payout ratio (DPR) is 82.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AB shares. Evercore ISI increased their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.40.

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.