QRG Capital Management Inc. Sells 29,988 Shares of Ally Financial Inc. $ALLY

Key Points

• QRG Capital Management Inc. reduced its stake in Ally Financial by 28.7%, selling 29,988 shares, leaving them with 74,332 shares valued at approximately $2.9 million.
• Multiple hedge funds are actively trading shares of Ally Financial, with significant increases in holdings from firms like Private Trust Co. NA and Bessemer Group Inc. in the first quarter.
• Analysts have a generally positive outlook on Ally Financial, with Morgan Stanley raising its price target from $47 to $52 and a majority rating the stock as a "Buy" or "Outperform."

QRG Capital Management Inc. lowered its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 28.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,332 shares of the financial services provider's stock after selling 29,988 shares during the period. QRG Capital Management Inc.'s holdings in Ally Financial were worth $2,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new position in shares of Ally Financial during the first quarter worth $25,000. Copia Wealth Management acquired a new position in Ally Financial during the 1st quarter valued at about $27,000. SVB Wealth LLC acquired a new position in Ally Financial during the 1st quarter valued at about $27,000. Private Trust Co. NA raised its stake 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 last quarter. Finally, Bessemer Group Inc. boosted 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 worth $37,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALLY shares. Morgan Stanley increased their price objective on shares of Ally Financial from $47.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods reduced their target price on Ally Financial from $56.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.36.

Ally Financial Stock Up 0.4%

NYSE:ALLY opened at $39.79 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company's fifty day moving average price is $40.14 and its 200-day moving average price is $37.36. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $44.83. The firm has a market capitalization of $12.25 billion, a P/E ratio of 25.84, a PEG ratio of 0.31 and a beta of 1.18.

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

Ally Financial Announces Dividend

The business also recently announced 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 yield of 3.0%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) 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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