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AllianceBernstein
(NYSE:AB)
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Rating:75Outperform
Price Target:
$41.00
▲(10.22% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (high profitability and no-debt balance sheet) and attractive valuation (low P/E and high dividend yield). Offsetting factors are a weak-to-neutral technical trend (price below several key moving averages) and mixed earnings-call signals where improved guidance and record AUM are tempered by notable outflows and fee-rate/mix headwinds.
Positive Factors
Scale & diversified AUM base
AUM scale above $900B and broad distribution across insurance, wealth, SMAs and ETFs creates a durable fee base. Large institutional mandates and strong gross sales demonstrate distribution strength, lowering revenue concentration risk and supporting steady management fees over the medium term.
Negative Factors
Volatile cash flow & revenue
Wide swings in operating and free cash flow reduce predictability of distributable cash and capital deployment plans. For an asset manager reliant on fee income, volatile cash conversion complicates budgeting, increases sensitivity to market cycles, and can constrain long-term reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale & diversified AUM base
AUM scale above $900B and broad distribution across insurance, wealth, SMAs and ETFs creates a durable fee base. Large institutional mandates and strong gross sales demonstrate distribution strength, lowering revenue concentration risk and supporting steady management fees over the medium term.
Read all positive factors
AllianceBernstein (AB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.43B
Dividend Yield9.28%
Average Volume (3M)284.71K
Price to Earnings (P/E)10.9
Beta (1Y)0.69
Revenue GrowthN/A
EPS Growth0.93%
CountryUS
Employees4,468
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)3.38
Shares Outstanding93,403,854
10 Day Avg. Volume222,245
30 Day Avg. Volume284,709
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)3.14
Price to Sales (P/S)11.69
P/FCF Ratio11.04
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$38.00Price Target Upside2.15% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)3.51
Revenue Forecast (FY)$3.74B
AllianceBernstein Business Overview & Revenue Model
Company Description
AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm provides its services to investment companies, pension and profit-sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organi...
How the Company Makes Money
AllianceBernstein primarily makes money by charging fees for managing client assets and providing related investment services. The company’s core revenue stream is investment advisory and management fees, which are generally calculated as a percen...
AllianceBernstein Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call communicated multiple material operational and financial achievements — record AUM (> $905B), early attainment of private markets targets ($91B), return to positive organic growth, improved adjusted earnings (+8% YoY), revenue growth (+5% YoY) and margin expansion (+70 bps) — while acknowledging notable challenges in active equity outflows (~$11B), taxable fixed income outflows (~$4B), regional retail rotations (Asia), and a reduction in private markets performance fee expectations due to unrealized marks. Management also highlighted near-term fee‑rate timing effects from large mandate onboarding and reiterated cost discipline and favorable long‑term prospects from the Equitable/Corebridge opportunity. Overall, the positive operational momentum and financial progress outweigh the near-term distribution and performance headwinds.Positive Updates
Record Assets Under Management
AUM reached a record >$905 billion at quarter end, driven by market appreciation and organic growth across insurance, private wealth, retirement, SMAs and active ETFs.
Negative Updates
Active Equity and Taxable Fixed Income Outflows
Active equity outflows were nearly $11 billion and taxable fixed income outflows exceeded $4 billion during the quarter, driven largely by retail redemptions concentrated in Asia Pacific.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Assets Under Management
AUM reached a record >$905 billion at quarter end, driven by market appreciation and organic growth across insurance, private wealth, retirement, SMAs and active ETFs.
Read all positive updates
Company Guidance
Management raised and tightened several FY26 targets: Q2 adjusted EPS was $0.82 (up 8% YoY) on adjusted net revenues of $888M, with adjusted operating margin expanding 70 bps to 33% and total operating expenses of $595M (compensation +5% YoY; comp ratio 48.5%, with a 40.5% comp‑to‑net‑revenue accrual planned for Q3). They lowered full‑year non‑comp expense guidance to $620–$640M (promotion & servicing ~20–30% of that; G&A ~70–80%) and lowered the expected ABLP tax rate to 5–6% (Q2 ETR 5.8%). Firmwide fee rate was 37.7 bps; AUM exceeded $905B and private markets AUM hit $91B (surpassing the $90–100B target and, including ~$12B of commercial mortgage loans onboarded in July and a $9B passive fixed income mandate funded June 30, now above the target range). Performance‑fee guidance was raised to $115–$135M total (public $60–70M; private $55–65M), and the newly onboarded commercial mortgage loans are expected to begin earning management fees in Q4 at a high‑single‑digit fee rate.AllianceBernstein Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 343.43M | 332.76M | 461.95M | 299.78M | 305.50M | 416.33M |
| Gross Profit | 343.43M | 332.76M | 461.95M | 299.78M | 305.50M | 416.33M |
| EBITDA | 343.43M | 332.76M | 519.93M | 299.78M | 305.50M | 416.33M |
| Net Income | 312.51M | 299.84M | 423.37M | 264.18M | 274.17M | 385.84M |
Balance Sheet | ||||||
| Total Assets | 1.25B | 1.24B | 2.03B | 2.08B | 2.07B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 0.00 | 832.04M | 0.00 | 0.00 | 0.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.03M | 1.66M | 2.77M | 1.29M | 1.62M | 2.14M |
| Stockholders Equity | 1.25B | 1.24B | 2.03B | 2.08B | 2.07B | 1.62B |
Cash Flow | ||||||
| Free Cash Flow | 313.89M | 352.37M | 1.28B | 293.98M | 362.61M | 355.11M |
| Operating Cash Flow | 313.89M | 352.37M | 1.41B | 293.98M | 362.61M | 355.11M |
| Investing Cash Flow | 0.00 | 0.00 | -115.73M | 0.00 | -1.77M | -3.40M |
| Financing Cash Flow | -313.89M | -352.37M | -1.60B | -293.98M | -360.85M | -351.71M |
AllianceBernstein Technical Analysis
Negative
37.20
Price Trends
36.89
Negative
37.28
Negative
37.71
Negative
Market Momentum
0.24
Negative
51.39
Neutral
23.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AB, the sentiment is Negative. The current price of 37.2 is below the 20-day moving average (MA) of 37.32, above the 50-day MA of 36.89, and below the 200-day MA of 37.71, indicating a bearish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 51.39 is Neutral, neither overbought nor oversold. The STOCH value of 23.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AB.
AllianceBernstein Risk Analysis
AllianceBernstein disclosed 38 risk factors in its most recent earnings report. AllianceBernstein reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AllianceBernstein Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $4.51B | 10.88 | 33.93% | 2.42% | 15.16% | 20.90% | |
79 Outperform | $6.16B | 22.10 | 15.76% | 1.98% | 62.31% | -1.99% | |
78 Outperform | $4.19B | 25.16 | 30.54% | 3.17% | 12.59% | 2.98% | |
75 Outperform | $3.43B | 10.88 | 22.10% | 9.17% | ― | 0.93% | |
74 Outperform | $9.65B | 11.77 | 23.38% | 0.01% | 12.26% | 108.91% | |
73 Outperform | $3.21B | 9.25 | 70.91% | 10.07% | 7.40% | 12.45% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
AB
AllianceBernstein
36.76
-0.54
-1.44%
AMG
Affiliated Managers
366.73
159.70
77.14%
CNS
Cohen & Steers
82.27
12.70
18.25%
FHI
Federated Hermes
59.96
12.05
25.14%
APAM
Artisan Partners
39.24
-1.60
-3.92%
VCTR
Victory Capital Holdings
99.03
34.04
52.38%
AllianceBernstein Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
AllianceBernstein Updates Preliminary Second-Quarter Assets Under Management
Neutral
Jul 13, 2026
AllianceBernstein announced on July 13, 2026 that it had furnished a news release presenting its preliminary assets under management as of June 30, 2026. The disclosure signaled an update on the scale of client capital the firm oversees, a key met...
Financial Disclosures
AllianceBernstein Reports Preliminary May 2026 Assets Under Management
Neutral
Jun 10, 2026
On June 10, 2026, AllianceBernstein announced that it had issued a news release detailing its preliminary assets under management as of May 31, 2026. The disclosure underscores the firm’s ongoing practice of providing timely visibility into ...
Business Operations and StrategyFinancial Disclosures
AllianceBernstein Reports Preliminary April 2026 AUM Update
Neutral
May 12, 2026
AllianceBernstein L.P. and AllianceBernstein Holding L.P., the investment management partnerships operating under the AllianceBernstein brand, reported preliminary assets under management figures as of April 30, 2026. The disclosure, issued on May...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.