AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $0.73 on May 23rd

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 annualized dividend and a yield of 8.70%. The ex-dividend date is Friday, May 3rd.

AllianceBernstein has decreased its dividend by an average of 2.1% per year over the last three years and has increased its dividend every year for the last 1 years. AllianceBernstein has a payout ratio of 86.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect AllianceBernstein to earn $3.56 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 86.5%.

AllianceBernstein Trading Down 0.4 %

AB traded down $0.15 during mid-day trading on Friday, hitting $33.56. 609,313 shares of the stock were exchanged, compared to its average volume of 305,441. The company has a market cap of $3.84 billion, a PE ratio of 13.93, a PEG ratio of 0.65 and a beta of 1.25. The firm’s fifty day moving average is $33.63 and its two-hundred day moving average is $31.67. AllianceBernstein has a 1-year low of $25.83 and a 1-year high of $35.84.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $857.85 million. AllianceBernstein had a return on equity of 15.34% and a net margin of 6.47%. AllianceBernstein’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. As a group, research analysts anticipate that AllianceBernstein will post 3.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI reaffirmed a “buy” rating and issued a $38.00 price target on shares of AllianceBernstein in a research report on Tuesday, March 12th. TheStreet raised AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $40.00 price target on shares of AllianceBernstein in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.44.

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.