AllianceBernstein (NYSE:AB - Get Free Report) will post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect AllianceBernstein to post earnings of $0.73 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.
AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $807.42 million. AllianceBernstein had a net margin of 7.68% and a return on equity of 15.81%. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
NYSE:AB opened at $37.72 on Thursday. The firm has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $33.95. AllianceBernstein has a one year low of $25.83 and a one year high of $37.97. The firm has a market cap of $4.34 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.66 and a beta of 1.24.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.71 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.53%. AllianceBernstein's dividend payout ratio is presently 117.84%.
Several research firms recently commented on AB. The Goldman Sachs Group boosted their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. TD Cowen increased their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company a "buy" rating in a report on Monday, July 29th. Evercore ISI raised their price objective on AllianceBernstein from $38.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Finally, Barclays upped their target price on AllianceBernstein from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.20.
Read Our Latest Research Report on AllianceBernstein
In other news, insider Equitable Holdings, Inc. bought 500,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $34.18 per share, for a total transaction of $17,090,000.00. Following the purchase, the insider now directly owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AllianceBernstein news, Director Charles G.T. Stonehill sold 4,000 shares of the firm's 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 of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, insider Equitable Holdings, Inc. bought 500,000 shares of AllianceBernstein stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $34.18 per share, with a total value of $17,090,000.00. Following the completion of the purchase, the insider now owns 3,066,838 shares in the company, valued at approximately $104,824,522.84. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.
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.
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