LSV Asset Management Sells 58,700 Shares of Ally Financial Inc. (NYSE:ALLY)

Key Points

• LSV Asset Management has reduced its stake in Ally Financial Inc. by 2.6%, now holding approximately 0.72% of the company's stock worth $81 million.
• Institutional investors collectively own 88.76% of Ally Financial, with several firms either increasing or initiating their stakes in the first quarter.
• Ally Financial recently reported earnings of $0.99 per share, exceeding estimates, and announced a dividend of $0.30 per share, resulting in an annual yield of 3.2%.

LSV Asset Management cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,221,735 shares of the financial services provider's stock after selling 58,700 shares during the quarter. LSV Asset Management owned 0.72% of Ally Financial worth $81,027,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALLY. Copia Wealth Management acquired a new position in shares of Ally Financial during the first quarter worth $27,000. Private Trust Co. NA lifted its holdings in Ally Financial by 125.7% in the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after buying an additional 509 shares during the period. Bessemer Group Inc. lifted its holdings in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after buying an additional 377 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Ally Financial in the fourth quarter valued at $78,000. Finally, Fifth Third Bancorp lifted its holdings in Ally Financial by 22.3% in the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after buying an additional 459 shares during the period. 88.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALLY has been the topic of several recent analyst reports. Morgan Stanley restated an "overweight" rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Citigroup reiterated a "buy" rating and set a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.80.

Ally Financial Price Performance

Shares of Ally Financial stock traded down $0.21 on Thursday, hitting $37.01. 157,122 shares of the company traded hands, compared to its average volume of 3,988,897. The firm's 50-day simple moving average is $38.07 and its 200 day simple moving average is $36.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market cap of $11.37 billion, a P/E ratio of 24.05, a P/E/G ratio of 0.29 and a beta of 1.16. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $43.86.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company earned $0.97 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. Ally Financial's payout ratio is presently 77.92%.

About Ally Financial

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.