Comerica Bank Trims Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Comerica Bank reduced its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,049 shares of the financial services provider's stock after selling 9,739 shares during the quarter. Comerica Bank owned approximately 0.06% of Ally Financial worth $6,592,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Voleon Capital Management LP bought a new position in shares of Ally Financial during the fourth quarter worth $276,000. AQR Capital Management LLC raised its holdings in Ally Financial by 59.1% during the 4th quarter. AQR Capital Management LLC now owns 504,337 shares of the financial services provider's stock valued at $18,161,000 after buying an additional 187,415 shares during the last quarter. Lido Advisors LLC increased its stake in Ally Financial by 5.9% during the 4th quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 359 shares in the last quarter. Northern Trust Corp increased its holdings in Ally Financial by 28.0% in the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock worth $141,932,000 after acquiring an additional 863,052 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Ally Financial by 602.1% in the 4th quarter. Quarry LP now owns 3,742 shares of the financial services provider's stock worth $135,000 after acquiring an additional 3,209 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Insider Transactions at Ally Financial

In related news, CFO Russell E. Hutchinson acquired 8,200 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average price of $30.81 per share, with a total value of $252,642.00. Following the completion of the acquisition, the chief financial officer now owns 236,421 shares in the company, valued at approximately $7,284,131.01. This represents a 3.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total value of $257,120.00. Following the transaction, the insider now owns 90,387 shares of the company's stock, valued at approximately $2,905,038.18. This represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALLY has been the subject of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $40.00 price target on shares of Ally Financial in a research report on Monday, April 21st. Jefferies Financial Group raised their price target on Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Bank of America decreased their price objective on Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group upped their price objective on shares of Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ally Financial from $43.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.69.

Ally Financial Stock Performance

NYSE ALLY traded up $0.01 on Wednesday, reaching $32.55. The stock had a trading volume of 2,169,973 shares, compared to its average volume of 3,538,591. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $45.46. The company has a market cap of $10.00 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 0.32 and a beta of 1.14. The firm has a fifty day moving average of $33.87 and a two-hundred day moving average of $35.95.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same period in the prior year, the company earned $0.45 EPS. On average, equities research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, May 1st. Ally Financial's payout ratio is 88.24%.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.