AllianceBernstein (NYSE:AB) Shares Gap Up – Time to Buy?

AllianceBernstein Holding L.P. (NYSE:AB) shares gapped up before the market opened on Monday . The stock had previously closed at $35.73, but opened at $37.95. AllianceBernstein shares last traded at $37.99, with a volume of 1,078,137 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AB. Evercore ISI upped their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays decreased their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Finally, Sanford C. Bernstein set a $45.00 price target on AllianceBernstein in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

AllianceBernstein Trading Up 5.9 %

The stock has a market cap of $4.18 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. The stock’s 50-day moving average is $37.25 and its 200-day moving average is $36.17.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.88%. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post 3.58 EPS for the current year.

AllianceBernstein Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.77. This represents a $4.20 annualized dividend and a dividend yield of 11.10%. AllianceBernstein’s dividend payout ratio (DPR) is 112.90%.

Institutional Investors Weigh In On AllianceBernstein

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in shares of AllianceBernstein during the 4th quarter valued at $25,000. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein in the 3rd quarter valued at $31,000. FSA Wealth Management LLC purchased a new position in AllianceBernstein in the 3rd quarter worth about $36,000. Luken Investment Analytics LLC acquired a new stake in AllianceBernstein during the 4th quarter worth about $37,000. Finally, Summit Securities Group LLC purchased a new stake in AllianceBernstein during the fourth quarter valued at about $41,000. 19.25% of the stock is owned by institutional investors and hedge funds.

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.