AllianceBernstein (AB) to Release Earnings on Thursday

AllianceBernstein (NYSE:AB) will issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $807.42 million. AllianceBernstein had a return on equity of 15.81% and a net margin of 7.68%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AllianceBernstein Trading Up 0.2 %

AB stock opened at $37.91 on Wednesday. The business has a 50 day simple moving average of $34.95 and a 200-day simple moving average of $34.06. The company has a market capitalization of $4.37 billion, a P/E ratio of 15.73, a PEG ratio of 0.66 and a beta of 1.24. AllianceBernstein has a twelve month low of $25.83 and a twelve month high of $38.96.

AllianceBernstein Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend was Monday, August 5th. AllianceBernstein’s payout ratio is currently 117.84%.

Insiders Place Their Bets

In related news, Director Charles G.T. Stonehill sold 4,000 shares of AllianceBernstein stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $34.87, for a total value of $139,480.00. Following the sale, the director now directly owns 25,923 shares in the company, valued at $903,935.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Charles G.T. Stonehill sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $34.87, for a total value of $139,480.00. Following the completion of the sale, the director now owns 25,923 shares in the company, valued at $903,935.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Hogbin sold 12,781 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $34.87, for a total transaction of $445,673.47. Following the transaction, the insider now owns 10,000 shares in the company, valued at $348,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AB shares. Barclays increased their target price on shares of AllianceBernstein from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Evercore ISI lifted their target price on AllianceBernstein from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. The Goldman Sachs Group upped their price target on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen increased their price target on AllianceBernstein from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AllianceBernstein presently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

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.