Ally Financial Inc. $ALLY Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Ally Financial Inc. by 67.4%, selling 46,272 shares and leaving them with 22,421 shares valued at approximately $924,000.
• Ally Financial reported earnings of $0.99 per share for the last quarter, surpassing the consensus estimate of $0.78, while revenue reached $2.08 billion.
• The company recently declared a quarterly dividend of $0.30 per share, which represents an annualized dividend yield of 3.1% and a payout ratio of 77.92%.

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 67.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,421 shares of the financial services provider's stock after selling 46,272 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ally Financial were worth $924,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ALLY. Wellington Management Group LLP acquired a new position in Ally Financial during the 1st quarter valued at about $253,881,000. Millennium Management LLC increased its stake in Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider's stock valued at $136,838,000 after buying an additional 2,630,981 shares during the period. AQR Capital Management LLC increased its stake in Ally Financial by 173.2% during the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider's stock valued at $49,984,000 after buying an additional 873,380 shares during the period. Amundi increased its stake in Ally Financial by 53.9% during the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider's stock valued at $64,866,000 after buying an additional 622,601 shares during the period. Finally, Eisler Capital Management Ltd. acquired a new position in Ally Financial during the 1st quarter valued at about $22,651,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Performance

Ally Financial stock opened at $38.80 on Friday. The firm's 50 day simple moving average is $40.10 and its 200-day simple moving average is $37.28. The company has a market cap of $11.94 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $44.83.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. As a group, equities research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is currently 77.92%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley lifted their price objective on shares of Ally Financial from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company raised shares of Ally Financial from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Citigroup lifted their price objective on shares of Ally Financial from $59.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Evercore ISI lowered their price objective on shares of Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $45.36.

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.

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