AllianceBernstein (AB) to Release Quarterly Earnings on Thursday

AllianceBernstein (NYSE:AB) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

AllianceBernstein (NYSE:AB) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $807.42 million. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock opened at $37.87 on Tuesday. AllianceBernstein has a one year low of $25.83 and a one year high of $38.96. The company has a market capitalization of $4.36 billion, a PE ratio of 15.71, a P/E/G ratio of 0.66 and a beta of 1.24. The company has a 50-day simple moving average of $34.87 and a two-hundred day simple moving average of $34.03.

AllianceBernstein Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.71 per share. The ex-dividend date was Monday, August 5th. This represents a $2.84 annualized dividend and a dividend yield of 7.50%. AllianceBernstein’s dividend payout ratio (DPR) is presently 117.84%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays lifted their price target 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. Evercore ISI upped their target price on AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. TD Cowen increased their price target on AllianceBernstein from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.20.

Insider Activity at AllianceBernstein

In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the sale, the director now owns 25,923 shares in the company, valued at approximately $903,935.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher Hogbin sold 12,781 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $34.87, for a total value of $445,673.47. Following the sale, the insider now owns 10,000 shares in the company, valued at $348,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total transaction of $139,480.00. Following the transaction, the director now directly owns 25,923 shares of the company’s stock, valued at approximately $903,935.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

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.