AllianceBernstein Holding L.P. (NYSE:AB) Plans Quarterly Dividend of $0.96

AllianceBernstein Holding L.P. (NYSE:AB) announced a quarterly dividend on Thursday, February 5th. Shareholders of record on Friday, February 20th will be paid a dividend of 0.96 per share by the asset manager on Thursday, March 12th. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date is Friday, February 20th. This is a 11.6% increase from AllianceBernstein’s previous quarterly dividend of $0.86.

AllianceBernstein has raised its dividend by an average of 0.1%annually over the last three years. AllianceBernstein has a dividend payout ratio of 97.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect AllianceBernstein to earn $4.01 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 85.8%.

AllianceBernstein Stock Down 0.7%

Shares of AllianceBernstein stock traded down $0.29 on Thursday, reaching $42.16. The company’s stock had a trading volume of 807,494 shares, compared to its average volume of 456,470. The company has a market capitalization of $3.84 billion, a P/E ratio of 13.87, a PEG ratio of 1.20 and a beta of 0.87. The stock has a 50-day moving average price of $40.18 and a 200-day moving average price of $39.80. AllianceBernstein has a 52-week low of $32.28 and a 52-week high of $44.11.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $957.31 million for the quarter, compared to analysts’ expectations of $956.45 million. AllianceBernstein had a net margin of 7.09% and a return on equity of 20.56%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Sell-side analysts forecast that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.