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

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 6th will be paid 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 8.70%. The ex-dividend date of this dividend is Friday, May 3rd.

AllianceBernstein has decreased its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend every year for the last 1 years. AllianceBernstein has a payout ratio of 86.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Price Performance

AB stock traded down $0.15 during midday trading on Friday, hitting $33.56. The company’s stock had a trading volume of 609,313 shares, compared to its average volume of 305,441. The company’s fifty day moving average price is $33.63 and its 200 day moving average price is $31.67. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $35.84. The stock has a market capitalization of $3.84 billion, a P/E ratio of 13.93, a PEG ratio of 0.65 and a beta of 1.25.

AllianceBernstein (NYSE:AB) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. AllianceBernstein had a return on equity of 15.34% and a net margin of 6.47%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. During the same period in the previous year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that AllianceBernstein will post 3.06 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.