NYSE:AB

Stock Analysis Report

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Executive Summary

AllianceBernstein Holding L.P. is publicly owned investment manager. More Details


Snowflake Analysis

Very undervalued with solid track record.


Similar Companies

Share Price & News

How has AllianceBernstein Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AB is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: AB's weekly volatility has decreased from 9% to 4% over the past year.


Market Performance


7 Day Return

0.4%

AB

-0.7%

US Capital Markets

1.4%

US Market


1 Year Return

5.6%

AB

16.0%

US Capital Markets

22.6%

US Market

Return vs Industry: AB underperformed the US Capital Markets industry which returned 16.2% over the past year.

Return vs Market: AB underperformed the US Market which returned 22.8% over the past year.


Shareholder returns

ABIndustryMarket
7 Day0.4%-0.7%1.4%
30 Day6.7%7.3%4.9%
90 Day12.9%21.7%14.6%
1 Year16.4%5.6%18.9%16.0%25.4%22.6%
3 Year71.7%29.7%30.2%20.2%46.8%37.0%
5 Year207.2%95.2%149.4%118.3%132.0%106.1%

Long-Term Price Volatility Vs. Market

How volatile is AllianceBernstein Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AllianceBernstein Holding undervalued compared to its fair value and its price relative to the market?

23.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AB ($35.61) is trading below our estimate of fair value ($46.22)

Significantly Below Fair Value: AB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AB is good value based on its PE Ratio (12.8x) compared to the US Capital Markets industry average (27.5x).

PE vs Market: AB is good value based on its PE Ratio (12.8x) compared to the US market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: AB is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: AB is good value based on its PB Ratio (2.3x) compared to the US Capital Markets industry average (5.1x).


Next Steps

Future Growth

How is AllianceBernstein Holding forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

14.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AB's forecast earnings growth (14.9% per year) is above the savings rate (2%).

Earnings vs Market: AB's earnings (14.9% per year) are forecast to grow slower than the US market (21.6% per year).

High Growth Earnings: AB's earnings are forecast to grow, but not significantly.

Revenue vs Market: AB's revenue (33.3% per year) is forecast to grow faster than the US market (10.5% per year).

High Growth Revenue: AB's revenue (33.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has AllianceBernstein Holding performed over the past 5 years?

6.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AB has high quality earnings.

Growing Profit Margin: AB's current net profit margins (90.3%) are higher than last year (89.1%).


Past Earnings Growth Analysis

Earnings Trend: AB's earnings have grown by 6.5% per year over the past 5 years.

Accelerating Growth: AB's earnings growth over the past year (21.8%) exceeds its 5-year average (6.5% per year).

Earnings vs Industry: AB earnings growth over the past year (21.8%) exceeded the Capital Markets industry 4.9%.


Return on Equity

High ROE: AB's Return on Equity (17.8%) is considered low.


Next Steps

Financial Health

How is AllianceBernstein Holding's financial position?


Financial Position Analysis

Short Term Liabilities: Insufficient data to determine if AB's short term assets cover its short term liabilities.

Long Term Liabilities: Insufficient data to determine if AB's short term assets cover its long term liabilities.


Debt to Equity History and Analysis

Debt Level: AB is debt free.

Reducing Debt: AB has not had any debt for past 5 years.

Debt Coverage: AB has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: AB has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is AllianceBernstein Holding current dividend yield, its reliability and sustainability?

7.10%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AB's dividend (7.1%) is higher than the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: AB's dividend (7.1%) is in the top 25% of dividend payers in the US market (3.86%)


Stability and Growth of Payments

Stable Dividend: AB's dividend payments have been volatile in the past 10 years.

Growing Dividend: AB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (100.1%), AB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AB's dividends in 3 years are not forecast to be well covered by earnings (99.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.2yrs

Average management tenure


CEO

Seth Bernstein (59 yo)

3.67yrs

Tenure

US$9,444,889

Compensation

Mr. Seth Perry Bernstein serves as Chief Executive Officer Of Abc of AllianceBernstein Holding L.P. since May 01, 2017 and is its Director since April 27, 2017. He is Senior Executive Vice President and He...


CEO Compensation Analysis

Compensation vs Market: Seth's total compensation ($USD9.44M) is above average for companies of similar size in the US market ($USD5.00M).

Compensation vs Earnings: Seth's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Seth Bernstein
CEO, President & Director3.67yrsUS$9.44m0.033%
$ 1.1m
John Weisenseel
CFO & Senior VP8.67yrsUS$2.38m0.019%
$ 678.8k
Catherine Burke
Chief Operating Officer0.50yrUS$2.81m0.014%
$ 500.4k
Laurence Cranch
Chief Legal Officer16.5yrsUS$2.02m0.0095%
$ 331.7k
William Siemers
Controller & Chief Accounting Officer2.75yrsno data0.018%
$ 626.8k
Karl Sprules
Head of Global Technology & Operations1.58yrsno datano data
Mark Griffin
Head of Investor Relations1.08yrsno datano data
Mark Manley
Chief Compliance Officer33yrsno datano data
John Meyers
Director of Corporate Communicationsno datano datano data
Steven Eisenberg
COO for Global Client Group and Head of Marketing & Client Serviceno datano datano data
Thomas Hexner
Executive Vice President and Head of Bernstein Gwm21yrsno datano data
Sharon Fay
Chief Responsibility Officer18yrsUS$3.75mno data

6.2yrs

Average Tenure

59.5yo

Average Age

Experienced Management: AB's management team is seasoned and experienced (6.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Seth Bernstein
CEO, President & Director3.67yrsUS$9.44m0.033%
$ 1.1m
Henri Rene Marie de la Croix de Castries
Chairman of AXA Financial22.75yrsno datano data
Paul Audet
Independent Director3.17yrsUS$278.50k0.023%
$ 809.1k
Ramon de Oliveira-Cezar
Independent Chairman1.83yrsUS$319.38k0.027%
$ 955.1k
Charles Gerald Stonehill
Independent Director1.75yrsUS$253.54k0.013%
$ 470.4k
Kristi Matus
Independent Director1.5yrsUS$203.00k0.012%
$ 432.1k
Das Narayandas
Independent Director3.17yrsUS$261.00k0.023%
$ 809.1k
Mark Pearson
Director9.92yrsno datano data
Jeffrey Hurd
Director1.75yrsno datano data
Nicholas Lane
Director1.75yrsno datano data
Daniel Kaye
Independent Director3.75yrsUS$289.88k0.027%
$ 955.1k
Nella Domenici
Independent Director1yrno data0.0099%
$ 345.0k

2.5yrs

Average Tenure

61yo

Average Age

Experienced Board: AB's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

AllianceBernstein Holding L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AllianceBernstein Holding L.P.
  • Ticker: AB
  • Exchange: NYSE
  • Founded: 1987
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$3.484b
  • Shares outstanding: 96.17m
  • Website: https://www.alliancebernstein.com

Number of Employees


Location

  • AllianceBernstein Holding L.P.
  • 1345 Avenue of the Americas
  • New York
  • New York
  • 10105
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ABNYSE (New York Stock Exchange)YesLimited Partnership UnitsUSUSDApr 1988

Biography

AllianceBernstein Holding L.P. is publicly owned investment manager. The firm also provides research services to its clients. It provides its services to investment companies, pension and profit sharing pl...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/21 23:15
End of Day Share Price2021/01/21 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.