AllianceBernstein Holding L.P. (NYSE:AB) Plans $0.73 Quarterly Dividend

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 of this dividend is Friday, May 3rd.

AllianceBernstein has decreased its dividend by an average of 2.1% annually over the last three years and has increased its dividend annually for the last 1 consecutive 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 Stock Performance

Shares of AllianceBernstein stock traded down $0.15 during trading on Friday, reaching $33.56. The company’s stock had a trading volume of 609,313 shares, compared to its average volume of 305,441. The business’s fifty day moving average price is $33.63 and its 200-day moving average price is $31.67. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25. AllianceBernstein has a one year low of $25.83 and a one year high of $35.84.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business 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%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Sell-side analysts anticipate that AllianceBernstein will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI reiterated a “buy” rating and issued a $38.00 price objective on shares of AllianceBernstein in a research note on Tuesday, March 12th. TheStreet upgraded AllianceBernstein from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Finally, TD Cowen restated a “buy” rating and set a $40.00 price target on shares of AllianceBernstein in a research note on Tuesday, April 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AllianceBernstein has an average rating of “Moderate Buy” and an average 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.