AllianceBernstein Holding
Market Cap
US$3.5b
Last Updated
2021/01/21 23:15 UTC
Data Sources
Company Financials +
Executive Summary
AllianceBernstein Holding L.P. is publicly owned investment manager. More Details
Rewards
Risk Analysis
Dividend of 7.1% is not well covered by earnings or forecast to be in the next 3 years
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
| AB | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | -0.7% | 1.4% |
| 30 Day | 6.7% | 7.3% | 4.9% |
| 90 Day | 12.9% | 21.7% | 14.6% |
| 1 Year | 16.4%5.6% | 18.9%16.0% | 25.4%22.6% |
| 3 Year | 71.7%29.7% | 30.2%20.2% | 46.8%37.0% |
| 5 Year | 207.2%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
2 years ago | Simply Wall St
Does AllianceBernstein Holding LP's (NYSE:AB) PE Ratio Signal A Buying Opportunity?2 years ago | Simply Wall St
Income Investors Should Steer Clear of AllianceBernstein Holding LP (NYSE:AB)2 years ago | Simply Wall St
Interested In AllianceBernstein Holding LP. (NYSE:AB)’s Upcoming $0.73 Dividend? You Have 3 Days LeftValuation
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 3.67yrs | US$9.44m | 0.033% $ 1.1m | |
| CFO & Senior VP | 8.67yrs | US$2.38m | 0.019% $ 678.8k | |
| Chief Operating Officer | 0.50yr | US$2.81m | 0.014% $ 500.4k | |
| Chief Legal Officer | 16.5yrs | US$2.02m | 0.0095% $ 331.7k | |
| Controller & Chief Accounting Officer | 2.75yrs | no data | 0.018% $ 626.8k | |
| Head of Global Technology & Operations | 1.58yrs | no data | no data | |
| Head of Investor Relations | 1.08yrs | no data | no data | |
| Chief Compliance Officer | 33yrs | no data | no data | |
| Director of Corporate Communications | no data | no data | no data | |
| COO for Global Client Group and Head of Marketing & Client Service | no data | no data | no data | |
| Executive Vice President and Head of Bernstein Gwm | 21yrs | no data | no data | |
| Chief Responsibility Officer | 18yrs | US$3.75m | no 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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 3.67yrs | US$9.44m | 0.033% $ 1.1m | |
| Chairman of AXA Financial | 22.75yrs | no data | no data | |
| Independent Director | 3.17yrs | US$278.50k | 0.023% $ 809.1k | |
| Independent Chairman | 1.83yrs | US$319.38k | 0.027% $ 955.1k | |
| Independent Director | 1.75yrs | US$253.54k | 0.013% $ 470.4k | |
| Independent Director | 1.5yrs | US$203.00k | 0.012% $ 432.1k | |
| Independent Director | 3.17yrs | US$261.00k | 0.023% $ 809.1k | |
| Director | 9.92yrs | no data | no data | |
| Director | 1.75yrs | no data | no data | |
| Director | 1.75yrs | no data | no data | |
| Independent Director | 3.75yrs | US$289.88k | 0.027% $ 955.1k | |
| Independent Director | 1yr | no data | 0.0099% $ 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AB | NYSE (New York Stock Exchange) | Yes | Limited Partnership Units | US | USD | Apr 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 23:15 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.