AllianceBernstein Holding L.P. (AB) to Issue Quarterly Dividend of $1.05 on March 13th

AllianceBernstein Holding L.P. (NYSE:AB) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 1.05 per share by the asset manager on Thursday, March 13th. This represents a $4.20 annualized dividend and a dividend yield of 11.32%. The ex-dividend date is Tuesday, February 18th. This is an increase from AllianceBernstein’s previous quarterly dividend of $0.77.

AllianceBernstein has decreased its dividend payment by an average of 5.9% annually over the last three years. AllianceBernstein has a dividend payout ratio of 104.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect AllianceBernstein to earn $3.83 per share next year, which means the company may not be able to cover its $4.20 annual dividend with an expected future payout ratio of 109.7%.

AllianceBernstein Trading Up 3.2 %

AB opened at $37.09 on Friday. The stock has a market capitalization of $4.27 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.73 and a beta of 1.21. AllianceBernstein has a 12 month low of $30.57 and a 12 month high of $41.37. The firm’s fifty day simple moving average is $37.24 and its 200 day simple moving average is $36.06.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.77%. On average, equities research analysts predict that AllianceBernstein will post 3.48 EPS for the current fiscal year.

Analyst Ratings Changes

AB has been the topic of several analyst reports. Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.40.

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.