AllianceBernstein Holding L.P. (NYSE:AB) Receives $42.40 Average PT from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $42.40.

Several equities analysts recently issued reports on the company. Evercore ISI boosted their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays reduced their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of AllianceBernstein by 12.2% in the third quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after buying an additional 95,847 shares during the last quarter. Citigroup Inc. grew its position in shares of AllianceBernstein by 59.1% during the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock worth $22,528,000 after buying an additional 239,941 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of AllianceBernstein during the 3rd quarter valued at $671,000. International Assets Investment Management LLC bought a new stake in AllianceBernstein in the third quarter valued at about $31,650,000. Finally, GSA Capital Partners LLP bought a new stake in shares of AllianceBernstein in the 3rd quarter valued at about $786,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

NYSE AB opened at $37.71 on Wednesday. The company’s fifty day moving average is $36.54 and its two-hundred day moving average is $35.25. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 0.83 and a beta of 1.21. AllianceBernstein has a 52-week low of $30.57 and a 52-week high of $38.96.

AllianceBernstein Increases Dividend

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

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.