Alliancebernstein Holding (AB) Declares $0.70 Dividend
Alliancebernstein Holding said on February 8, 2023 that its board of directors declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 16, 2023. Previously, the company paid $0.64 per share.
At the current share price of $40.03 / share, the stock's dividend yield is 6.99%. Looking back five years and taking a sample every week, the average dividend yield has been 8.47%, the lowest has been 5.15%, and the highest has been 16.53%. The standard deviation of yields is 1.62 (n=236).
The current dividend yield is 0.91 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.10%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 4.70% Downside
As of February 10, 2023, the average one-year price target for Alliancebernstein Holding is $38.15. The forecasts range from a low of $32.32 to a high of $45.15. The average price target represents a decrease of 4.70% from its latest reported closing price of $40.03.
The projected annual revenue for Alliancebernstein Holding is $3,467MM, an increase of 1,034.85%. The projected annual EPS is $2.71, a decrease of 19.74%.
What is the Fund Sentiment?
There are 288 funds or institutions reporting positions in Alliancebernstein Holding. This is a decrease of 21 owner(s) or 6.80% in the last quarter. Average portfolio weight of all funds dedicated to AB is 0.14%, a decrease of 14.08%. Total shares owned by institutions increased in the last three months by 6.13% to 13,226K shares. The put/call ratio of AB is 0.99, indicating a bullish outlook.
What are large shareholders doing?
FCPVX - Fidelity Small Cap Value Fund holds 1,238K shares representing 1.23% ownership of the company. No change in the last quarter.
UBS Group holds 821K shares representing 0.82% ownership of the company. In it's prior filing, the firm reported owning 494K shares, representing an increase of 39.82%. The firm increased its portfolio allocation in AB by 38.74% over the last quarter.
Jpmorgan Chase & holds 621K shares representing 0.62% ownership of the company. In it's prior filing, the firm reported owning 132K shares, representing an increase of 78.73%. The firm increased its portfolio allocation in AB by 308.70% over the last quarter.
Wells Fargo holds 505K shares representing 0.50% ownership of the company. In it's prior filing, the firm reported owning 505K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in AB by 11.28% over the last quarter.
Franklin Resources holds 485K shares representing 0.48% ownership of the company. No change in the last quarter.
AllianceBernstein Holding Background Information
(This description is provided by the company.)
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. The firm has $688 billion in client assets under management, as of February 28, 2021.
This story originally appeared on Fintel.