AllianceBernstein Holding L.P. to Issue Dividend of $0.71 (NYSE:AB)

AllianceBernstein Holding L.P. (NYSE:AB) declared a dividend on Friday, July 26th, NASDAQ reports. Investors of record on Monday, August 5th will be given a dividend of 0.71 per share by the asset manager on Thursday, August 15th. The ex-dividend date of this dividend is Monday, August 5th.

AllianceBernstein has decreased its dividend by an average of 2.1% annually over the last three years. AllianceBernstein has a dividend payout ratio of 84.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect AllianceBernstein to earn $3.43 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 85.1%.

AllianceBernstein Stock Up 1.6 %

NYSE AB traded up $0.55 during trading on Friday, hitting $34.97. The stock had a trading volume of 691,181 shares, compared to its average volume of 305,247. The company has a market capitalization of $4.03 billion, a PE ratio of 14.51, a PEG ratio of 0.79 and a beta of 1.24. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $35.45. The firm has a 50 day moving average price of $33.66 and a 200 day moving average price of $33.51.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $807.42 million. AllianceBernstein had a net margin of 6.47% and a return on equity of 15.27%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts anticipate that AllianceBernstein will post 2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America decreased their target price on AllianceBernstein from $54.00 to $51.00 and set a “buy” rating for the company in a report on Monday, April 29th. TD Cowen decreased their price target on shares of AllianceBernstein from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, July 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.69.

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.