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

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $42.40.

Several research firms have weighed in on AB. Evercore ISI upped their price target on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays lowered their target price 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. Finally, The Goldman Sachs Group raised their target price on shares of AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd.

AllianceBernstein Stock Up 1.7 %

NYSE:AB opened at $37.09 on Wednesday. The stock has a market cap of $4.27 billion, a PE ratio of 10.63, a P/E/G ratio of 0.83 and a beta of 1.21. The business’s 50-day simple moving average is $36.59 and its two-hundred day simple moving average is $35.19. AllianceBernstein has a 52 week low of $30.10 and a 52 week high of $38.96.

AllianceBernstein Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Monday, November 4th were given a dividend of $0.77 per share. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.71. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend was Monday, November 4th. AllianceBernstein’s dividend payout ratio is currently 88.25%.

Institutional Investors Weigh In On AllianceBernstein

Hedge funds have recently bought and sold shares of the business. NBC Securities Inc. boosted its holdings in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the period. Truvestments Capital LLC bought a new stake in AllianceBernstein in the third quarter worth $31,000. FSA Wealth Management LLC purchased a new position in AllianceBernstein during the third quarter worth $36,000. Farther Finance Advisors LLC increased its position in AllianceBernstein by 115.4% during the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 764 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of AllianceBernstein in the second quarter valued at $51,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

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.