Shares of AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) have earned an average rating of "Moderate Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $42.40.
Several equities research analysts recently commented on the company. Barclays reduced their price objective on AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, December 9th. Evercore ISI lifted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd.
View Our Latest Analysis on AB
Several large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of AllianceBernstein during the 2nd quarter valued at $253,000. Essex Financial Services Inc. bought a new position in shares of AllianceBernstein in the second quarter worth about $236,000. Larson Financial Group LLC purchased a new position in shares of AllianceBernstein during the 2nd quarter valued at about $51,000. First Foundation Advisors grew its stake in shares of AllianceBernstein by 14.7% during the 2nd quarter. First Foundation Advisors now owns 58,450 shares of the asset manager's stock valued at $1,975,000 after acquiring an additional 7,500 shares during the period. Finally, American Century Companies Inc. increased its holdings in AllianceBernstein by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager's stock worth $97,090,000 after acquiring an additional 234,253 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors.
AB stock opened at $37.09 on Wednesday. The stock has a market capitalization of $4.27 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The stock's 50 day simple moving average is $36.59 and its 200 day simple moving average is $35.19. AllianceBernstein has a 12-month low of $30.10 and a 12-month high of $38.96.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 8.30%. The ex-dividend date of this dividend was Monday, November 4th. This is a boost from AllianceBernstein's previous quarterly dividend of $0.71. AllianceBernstein's dividend payout ratio is 88.25%.
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.
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