AllianceBernstein Holding L.P. (NYSE:AB) Announces Quarterly Dividend of $0.73

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.73 per share by the asset manager on Thursday, May 23rd. This represents a $2.92 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Friday, May 3rd.

AllianceBernstein has decreased its dividend by an average of 2.1% annually over the last three years. AllianceBernstein has a dividend payout ratio of 83.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect AllianceBernstein to earn $3.39 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 86.1%.

AllianceBernstein Trading Down 1.2 %

Shares of NYSE AB opened at $33.10 on Thursday. The stock has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $31.75. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $35.84. The stock has a market capitalization of $3.79 billion, a PE ratio of 13.73, a PEG ratio of 0.77 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last released its earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a return on equity of 15.27% and a net margin of 6.47%. AllianceBernstein’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts predict that AllianceBernstein will post 2.96 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AB. Evercore ISI reaffirmed a “buy” rating and set a $38.00 target price on shares of AllianceBernstein in a research note on Tuesday, March 12th. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. TD Cowen reduced their price objective on AllianceBernstein from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Bank of America lowered their target price on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Monday. One 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 presently has an average rating of “Moderate Buy” and a consensus price target of $41.19.

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.