KLP Kapitalforvaltning AS Sells 27,035 Shares of Ally Financial Inc. $ALLY

Key Points

• KLP Kapitalforvaltning AS sold 27,035 shares of Ally Financial Inc., reducing its holdings by 32.1% to a total of 57,300 shares worth approximately $2.23 million.
• The stock of Ally Financial is currently down 5.7% with a market capitalization of $11.38 billion and a price-to-earnings ratio of 24.00.
• Ally Financial recently declared a quarterly dividend of $0.30 per share, with an annualized dividend yield of 3.2%, payable on November 14th to shareholders of record as of October 31st.

KLP Kapitalforvaltning AS lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 32.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,300 shares of the financial services provider's stock after selling 27,035 shares during the period. KLP Kapitalforvaltning AS's holdings in Ally Financial were worth $2,232,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Fulton Bank N.A. lifted its holdings in shares of Ally Financial by 1.3% during the 2nd quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider's stock valued at $775,000 after purchasing an additional 260 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Ally Financial by 0.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock valued at $1,472,000 after purchasing an additional 300 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 415 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Ally Financial by 22.3% during the 1st quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 459 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Down 5.7%

NYSE:ALLY opened at $36.96 on Friday. The firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.18. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $44.83. The stock's 50 day moving average price is $40.21 and its two-hundred day moving average price is $37.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $2.06 billion for the quarter. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%. Equities research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, October 31st. Ally Financial's payout ratio is currently 77.92%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI dropped their target price on Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 30th. Citigroup lifted their target price on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 15th. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. dropped their target price on Ally Financial from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.14.

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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