AllianceBernstein Holding L.P. (NYSE:AB – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.77 per share by the asset manager on Sunday, November 24th. This represents a $3.08 annualized dividend and a yield of 8.04%. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.71.
AllianceBernstein has decreased its dividend payment by an average of 2.1% annually over the last three years. AllianceBernstein has a dividend payout ratio of 78.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect AllianceBernstein to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 79.3%.
AllianceBernstein Trading Up 1.8 %
Shares of NYSE AB opened at $38.33 on Friday. The firm has a market cap of $4.41 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The business’s 50 day moving average is $35.10 and its 200-day moving average is $34.11. AllianceBernstein has a 1-year low of $25.83 and a 1-year high of $38.96.
Analyst Ratings Changes
Several equities research analysts recently issued reports on AB shares. The Goldman Sachs Group boosted their price target on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. TD Cowen boosted their target price on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI increased their price target on AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Barclays lifted their target price on shares of AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.20.
Get Our Latest Stock Report on AB
Insider Transactions at AllianceBernstein
In other news, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction on Friday, September 20th. The shares were acquired at an average price of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the transaction, the insider now directly owns 3,066,838 shares of the company’s stock, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the sale, the director now owns 25,923 shares in the company, valued at $903,935.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Equitable Holdings, Inc. acquired 500,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the completion of the transaction, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.
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.
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