AllianceBernstein Holding L.P. (NYSE:AB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has received an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.40.

A number of research firms have recently commented on AB. Evercore ISI lifted their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays lowered their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AB. Rothschild Investment LLC purchased a new stake in shares of AllianceBernstein during the second quarter worth $253,000. Essex Financial Services Inc. bought a new stake in shares of AllianceBernstein during the 2nd quarter valued at $236,000. Larson Financial Group LLC purchased a new stake in AllianceBernstein during the 2nd quarter worth about $51,000. First Foundation Advisors boosted its stake in AllianceBernstein by 14.7% in the 2nd quarter. First Foundation Advisors now owns 58,450 shares of the asset manager’s stock worth $1,975,000 after purchasing an additional 7,500 shares during the period. Finally, American Century Companies Inc. increased its position in shares of AllianceBernstein by 8.9% during the second quarter. American Century Companies Inc. now owns 2,873,324 shares of the asset manager’s stock valued at $97,090,000 after buying an additional 234,253 shares during the period. 19.25% of the stock is owned by institutional investors.

AllianceBernstein Stock Up 1.8 %

AllianceBernstein stock opened at $37.71 on Wednesday. The company’s 50 day moving average price is $36.54 and its two-hundred day moving average price is $35.26. The stock has a market cap of $4.34 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.83 and a beta of 1.20. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.08 annualized dividend and a dividend yield of 8.17%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.71. AllianceBernstein’s payout ratio is 88.25%.

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.