Scotia Capital Inc. Has $1.67 Million Position in Ally Financial Inc. (NYSE:ALLY)

Key Points

• Scotia Capital Inc. has reduced its stake in Ally Financial Inc. by 34.5% in the first quarter, holding 45,692 shares valued at $1,666,000.
• Ally Financial reported earnings of $0.99 EPS for the last quarter, surpassing analysts' expectations of $0.78 EPS with a revenue of $2.08 billion.
• The company has declared a quarterly dividend of $0.30 per share, providing a yield of 3.2%, set to be paid on August 15th to investors of record on August 1st.

Scotia Capital Inc. cut its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 34.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 45,692 shares of the financial services provider's stock after selling 24,092 shares during the quarter. Scotia Capital Inc.'s holdings in Ally Financial were worth $1,666,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ally Financial by 84.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock valued at $151,320,000 after buying an additional 1,918,965 shares during the period. Phoenix Financial Ltd. boosted its stake in Ally Financial by 86.4% in the 4th quarter. Phoenix Financial Ltd. now owns 3,390,066 shares of the financial services provider's stock worth $122,077,000 after purchasing an additional 1,571,027 shares during the period. Janus Henderson Group PLC increased its holdings in Ally Financial by 6,226.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,368,654 shares of the financial services provider's stock worth $49,285,000 after purchasing an additional 1,347,020 shares in the last quarter. First Trust Advisors LP increased its holdings in Ally Financial by 41.4% during the 4th quarter. First Trust Advisors LP now owns 3,458,352 shares of the financial services provider's stock worth $124,535,000 after purchasing an additional 1,011,985 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Ally Financial by 28.0% in the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock valued at $141,932,000 after purchasing an additional 863,052 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Performance

NYSE:ALLY traded down $0.26 during mid-day trading on Thursday, reaching $36.96. 2,333,122 shares of the company's stock were exchanged, compared to its average volume of 3,432,767. Ally Financial Inc. has a one year low of $29.52 and a one year high of $43.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The business's fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $36.33. The firm has a market capitalization of $11.38 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.16.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.78 by $0.21. The company had revenue of $2.08 billion for 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 for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. Analysts anticipate 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 issued 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 of this dividend is Friday, August 1st. Ally Financial's dividend payout ratio is 77.92%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLY. Wells Fargo & Company reduced their price objective on Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price objective (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $42.80.

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.