AllianceBernstein Receives $42.17 Average Price Target from Analysts

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have garnered a consensus recommendation of “Hold” from the nine brokerage firms currently covering the stock, according to Marketbeat.com. Among these analysts, eight have issued a hold rating, while one has assigned a buy rating. The average twelve-month price target stands at approximately $42.17.

In recent evaluations, several research firms have adjusted their price targets for AllianceBernstein. TD Cowen increased its target from $36.50 to $40.00 on October 24, maintaining a hold rating. Similarly, Barclays raised its price target from $39.00 to $42.00 and assigned an “equal weight” rating in a report released on the same day. Additionally, Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating on December 2, 2023. Meanwhile, Weiss Ratings reaffirmed a “hold (c)” rating, and Cowen reiterated its hold rating on the same day.

Current Stock Performance and Financials

On October 24, 2023, AllianceBernstein stock opened at $39.99. Over the past year, the stock has reached a low of $32.28 and a high of $43.30. The company holds a market capitalization of $3.64 billion, with a price-to-earnings (P/E) ratio of 13.15 and a beta of 0.86. Recent trading data shows a 50-day moving average of $39.95 and a 200-day moving average of $39.97.

In its latest earnings report released on October 23, 2023, AllianceBernstein reported $0.86 earnings per share (EPS), surpassing the consensus estimate of $0.85 by a narrow margin. The company reported revenue of $884.67 million for the quarter, slightly below the consensus expectation of $900.69 million. Notably, AllianceBernstein achieved a return on equity of 20.56% and a net margin of 7.09%. This quarter’s revenue reflects a 1.3% increase compared to the same period last year, where the company posted an EPS of $0.77.

Dividend Update

In a positive development for investors, AllianceBernstein recently declared a quarterly dividend, which was paid on November 20, 2023. Shareholders on record as of November 3 received a dividend of $0.86 per share, marking an increase from the previous quarterly dividend of $0.76. This change translates to an annualized dividend of $3.44 and an appealing yield of 8.6%. Currently, the company’s payout ratio stands at 113.16%, indicating a robust commitment to returning value to shareholders.

About AllianceBernstein, it is a publicly owned investment manager that manages diverse portfolios for its clients. The firm specializes in various investment strategies, including common and preferred stocks, government and corporate fixed-income securities, and real estate-related assets.