AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $0.82 on August 27th

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Wednesday, August 12th will be paid a dividend of 0.82 per share by the asset manager on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Wednesday, August 12th.

AllianceBernstein has increased its dividend by an average of 0.0%per year over the last three years. AllianceBernstein has a dividend payout ratio of 94.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect AllianceBernstein to earn $3.90 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 85.1%.

AllianceBernstein Price Performance

Shares of AllianceBernstein stock opened at $37.09 on Thursday. AllianceBernstein has a 1 year low of $34.92 and a 1 year high of $44.11. The business has a 50 day moving average price of $36.84 and a 200 day moving average price of $38.32. The company has a market capitalization of $3.46 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.20 and a beta of 0.81.

AllianceBernstein (NYSE:AB) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $887.55 million for the quarter, compared to analyst estimates of $907.67 million. AllianceBernstein had a net margin of 6.60% and a return on equity of 26.05%. AllianceBernstein’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. As a group, research analysts expect that AllianceBernstein will post 3.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AB. Evercore set a $39.00 price target on AllianceBernstein in a report on Friday, July 10th. Zacks Research raised AllianceBernstein from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings cut AllianceBernstein from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. TD Cowen boosted their target price on shares of AllianceBernstein from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Barclays reduced their target price on shares of AllianceBernstein from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.50.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.