AllianceBernstein’s (AB) Buy Rating Reaffirmed at TD Cowen

TD Cowen reiterated their buy rating on shares of AllianceBernstein (NYSE:ABFree Report) in a research report released on Tuesday, Stock Target Advisor reports. They currently have a $40.00 price target on the asset manager’s stock.

Several other analysts also recently commented on the stock. TheStreet upgraded shares of AllianceBernstein from a c rating to a b- rating in a report on Friday, March 8th. Evercore ISI restated a buy rating and set a $38.00 price objective on shares of AllianceBernstein in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AllianceBernstein has an average rating of Moderate Buy and a consensus target price of $40.44.

Read Our Latest Analysis on AllianceBernstein

AllianceBernstein Stock Up 0.2 %

NYSE:AB opened at $33.14 on Tuesday. The company has a fifty day moving average of $33.67 and a 200-day moving average of $31.50. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $37.00. The firm has a market capitalization of $3.79 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.63 and a beta of 1.25.

AllianceBernstein (NYSE:ABGet Free Report) last announced its earnings results on Wednesday, February 7th. The asset manager reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a net margin of 6.36% and a return on equity of 14.88%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, analysts anticipate that AllianceBernstein will post 3.06 EPS for the current fiscal year.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.65. AllianceBernstein’s dividend payout ratio (DPR) is 132.19%.

Institutional Trading of AllianceBernstein

A number of large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new position in shares of AllianceBernstein in the fourth quarter worth about $26,000. GAMMA Investing LLC purchased a new position in shares of AllianceBernstein in the fourth quarter worth about $27,000. Cowa LLC purchased a new position in shares of AllianceBernstein in the first quarter worth about $27,000. FinTrust Capital Advisors LLC purchased a new position in shares of AllianceBernstein in the third quarter worth about $30,000. Finally, Barclays PLC purchased a new position in shares of AllianceBernstein in the second quarter worth about $38,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

(Get Free Report)

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.

Further Reading

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