AllianceBernstein Holding L.P. (NYSE:AB):
AB Announces June 30, 2017 Assets Under Management.
The company is trading up from yesterday’s close of $24.
AllianceBernstein Holding L.P. recently declared a dividend which was paid on Thursday May 18th, 2017. The dividend payment was $0.495 per share for the quarter or $1.98 annualized. This dividend represents a yeild of $8.25 which is the dividend as a percentage of the current share price. The ex-dividend date was Thursday the 4th of May 2017.
AllianceBernstein Holding L.P., launched on November 18, 1987, is involved in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds. The Business’s services span various investment disciplines, including market capitalization (large-, mid- and small-cap equities), term (long-, intermediate- and short-duration debt securities), and geographic location (the United States, international, global, emerging markets, regional and local), in the markets around the world..
It is trading at $24.25 which is just a bit higher than the 50 day moving average of $22.43 and which is marginally higher than the 200 day moving average of $22.81. The 50 day moving average was up by +8.10% and the 200 day average went up by +6.32%.
The most current P/E ratio is 11.33 and the market cap of the company is 2.34B. As of the latest earnings report the EPS was $2.14 and is estimated to be $2.00 for the current year with 96,473,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.50 and the next full year EPS is projected to be $2.18.
A few brokerage firms have released ratings on the stock. On November 22, 2016 the stock rating was changed to a “Neutral” by Citigroup which was a cut from the previous “Buy” rating. On October 14 Keefe Bruyette & Woods made no change to the stock rating of “Market Perform” but lowered the price expectation from $28.00 to $24.00.
July 29 investment analysts at Citigroup maintained a stock rating of “Buy” and lowered the price expectation to $27.00 from $30.00. On March 15 the company was rated “Buy” in a report from Bank of America up from the previous “Neutral” rating.
On February 12 Keefe Bruyette & Woods maintained a company rating of “Market Perform” and lowered the price target to $20.00 from $26.00. January 11 investment analysts at Keefe Bruyette & Woods kept the company rating at “Market Perform” and moved down the price target to $26.00 from $28.00.