NYSE:AB

Stock Analysis Report

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Executive Summary

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

Rewards


Snowflake Analysis


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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.3%

AB

6.1%

US Capital Markets

3.0%

US Market


1 Year Return

-8.7%

AB

7.0%

US Capital Markets

9.9%

US Market

Return vs Industry: AB underperformed the US Capital Markets industry which returned 7% over the past year.

Return vs Market: AB underperformed the US Market which returned 9.9% over the past year.


Shareholder returns

ABIndustryMarket
7 Day3.3%6.1%3.0%
30 Day15.2%8.4%8.2%
90 Day-20.6%-2.5%0.4%
1 Year0.3%-8.7%9.3%7.0%12.4%9.9%
3 Year45.7%10.6%29.5%21.8%31.0%22.3%
5 Year27.4%-18.1%51.2%36.7%58.1%40.3%

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?

18.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AB ($25.06) is trading below our estimate of fair value ($30.81)

Significantly Below Fair Value: AB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: AB is good value based on its PE Ratio (9.5x) compared to the Capital Markets industry average (32.7x).

PE vs Market: AB is good value based on its PE Ratio (9.5x) compared to the US market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: AB is poor value based on its PEG Ratio (3x)


Price to Book Ratio

PB vs Industry: AB is good value based on its PB Ratio (1.6x) compared to the US Capital Markets industry average (8.5x).

Future Growth

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

3.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AB's forecast earnings growth (3.1% per year) is above the savings rate (2.2%).

Earnings vs Market: AB's earnings (3.1% per year) are forecast to grow slower than the US market (22% per year).

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

Revenue vs Market: AB's revenue (32.4% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: AB's revenue (32.4% 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

Past Performance

How has AllianceBernstein Holding performed over the past 5 years?

5.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AB has high quality earnings.

Growing Profit Margin: AB's current net profit margins (89.7%) are higher than last year (89.6%).


Past Earnings Growth Analysis

Earnings Trend: AB's earnings have grown by 5.7% per year over the past 5 years.

Accelerating Growth: AB's earnings growth over the past year (10.3%) exceeds its 5-year average (5.7% per year).

Earnings vs Industry: AB earnings growth over the past year (10.3%) underperformed the Capital Markets industry 16.6%.


Return on Equity

High ROE: AB's Return on Equity (16.8%) is considered low.

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

Dividend

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

10.10%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AB's dividend (10.1%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: AB's dividend (10.1%) is in the top 25% of dividend payers in the US market (4.54%)


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 (101.9%), 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 (99.9% payout ratio).

Management

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

3.1yrs

Average management tenure


CEO

Seth Bernstein (58yo)

3.08yrs

Tenure

US$9,444,889

Compensation

Mr. Seth Perry Bernstein is 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 Head of I ...


CEO Compensation Analysis

Compensation vs Market: Seth's total compensation ($USD9.44M) is above average for companies of similar size in the US market ($USD5.91M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Seth Bernstein
CEO, President & Director3.08yrsUS$9.44m0.015% $374.6k
John Weisenseel
Chief Financial Officer8.08yrsUS$2.38m0.019% $467.9k
James Gingrich
Chief Operating Officer8.5yrsUS$1.64m0.13% $3.2m
Kate Burke
Chief Administrative Officer1.08yrsUS$2.81m0.0095% $230.8k
Laurence Cranch
General Counsel15.92yrsUS$2.02mno data
William Siemers
Controller & Chief Accounting Officer2.17yrsno data0.015% $365.6k
Karl Sprules
Head of Global Technology & Operations1yrno datano data
Mark Griffin
Head of Investor Relations0.50yrno datano data
Mark Manley
Chief Compliance Officer32.42yrsno datano data
John Meyers
Director of Corporate Communicationsno datano datano data

3.1yrs

Average Tenure

58yo

Average Age

Experienced Management: AB's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Seth Bernstein
CEO, President & Director3.08yrsUS$9.44m0.015% $374.6k
Henri René Marie de la Croix de Castries
Chairman of AXA Financial22.17yrsno datano data
Paul Audet
Independent Director2.58yrsUS$278.50k0.023% $557.5k
Ramon de Oliveira-Cezar
Independent Chairman1.25yrsUS$319.38k0.027% $658.3k
Charles Thoroton Stonehill
Independent Director1.17yrsUS$253.54k0.013% $324.3k
Kristi Matus
Independent Director0.92yrUS$203.00k0.012% $297.9k
Mark Pearson
Director9.33yrsno datano data
Nicholas Lane
Director1.17yrsno datano data
Daniel Kaye
Independent Director3.17yrsUS$289.88k0.027% $658.3k
Ramon Deoliveira
Chairman & Directorno datano datano data

2.6yrs

Average Tenure

61yo

Average Age

Experienced Board: AB's board of directors are not considered experienced ( 2.6 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: AB insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.


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$2.442b
  • Shares outstanding: 97.79m
  • 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
0S0NLSE (London Stock Exchange)YesLimited Partnership UnitsGBUSDApr 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 plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations, and other business entities. The firm invests in public equity, fixed income, and alternative investment markets across the globe. It employs long/short strategy to make its investments. The firm conducts in-house research to make its investments. AllianceBernstein Holding L.P. was founded in 1987 and is based in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/01 11:09
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
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.