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 given 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 an increase from AllianceBernstein’s previous quarterly dividend of $0.71.
AllianceBernstein has decreased its dividend by an average of 2.1% annually over the last three years. AllianceBernstein has a 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 tumble. Equities 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 Stock Up 1.8 %
AllianceBernstein stock opened at $38.33 on Friday. The company has a market capitalization of $4.41 billion, a PE ratio of 15.90, a P/E/G ratio of 0.66 and a beta of 1.24. The firm has a fifty day simple moving average of $35.10 and a two-hundred day simple moving average of $34.11. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $38.96.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. TD Cowen boosted their price target on shares of 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 target price on shares of AllianceBernstein from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. The Goldman Sachs Group increased their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays increased their target price on shares of AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.20.
Check Out Our Latest Stock Report on AllianceBernstein
Insider Buying and Selling
In related news, insider Equitable Holdings, Inc. purchased 500,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the purchase, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total transaction of $139,480.00. Following the completion of the transaction, the director now owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Equitable Holdings, Inc. bought 500,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were acquired at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the purchase, the insider now directly owns 3,066,838 shares of the company’s stock, 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. 2.70% of the stock is owned by insiders.
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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