Invesco Ltd. Sells 1,293,249 Shares of Ally Financial Inc. $ALLY

Key Points

• Invesco Ltd. has reduced its stake in Ally Financial Inc. by 56.9%, now holding only 978,994 shares after selling 1,293,249 shares during the first quarter.
• Ally Financial reported $0.99 earnings per share for the quarter, exceeding consensus estimates of $0.78, along with revenue of $2.08 billion.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 3.1%, with a payout ratio of 77.92%.

Invesco Ltd. lessened its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 56.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 978,994 shares of the financial services provider's stock after selling 1,293,249 shares during the period. Invesco Ltd. owned 0.32% of Ally Financial worth $35,704,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALLY. Copia Wealth Management bought a new position in Ally Financial during the first quarter worth $27,000. Private Trust Co. NA raised its stake in Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock worth $33,000 after buying an additional 509 shares during the last quarter. Bessemer Group Inc. raised its stake in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Ally Financial during the first quarter worth $74,000. Finally, Fifth Third Bancorp raised its stake in Ally Financial by 22.3% during the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock worth $92,000 after buying an additional 459 shares during the last quarter. Institutional investors own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup reissued a "buy" rating and set a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Wells Fargo & Company reduced their price target on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Finally, BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.80.

Ally Financial Stock Down 1.0%

Shares of NYSE ALLY opened at $38.46 on Tuesday. The stock has a market capitalization of $11.84 billion, a P/E ratio of 24.97, a P/E/G ratio of 0.30 and a beta of 1.16. The company has a 50-day moving average price of $38.53 and a 200-day moving average price of $36.24. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $43.86. 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 (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business's revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. On average, equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company 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. The ex-dividend date was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.1%. Ally Financial's payout ratio is 77.92%.

Ally Financial 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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