Vanguard Group Inc. lowered its position in shares of Ally Financial Inc. (NYSE:ALLY - Get Rating) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,384,251 shares of the financial services provider's stock after selling 1,860,201 shares during the period. Vanguard Group Inc. owned approximately 10.84% of Ally Financial worth $901,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in ALLY. Private Trust Co. NA increased its holdings in shares of Ally Financial by 99.8% during the 3rd quarter. Private Trust Co. NA now owns 891 shares of the financial services provider's stock worth $25,000 after buying an additional 445 shares during the last quarter. Syverson Strege & Co acquired a new stake in shares of Ally Financial during the 2nd quarter worth approximately $26,000. Denali Advisors LLC acquired a new stake in shares of Ally Financial during the 3rd quarter worth approximately $28,000. Salem Investment Counselors Inc. increased its holdings in shares of Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider's stock worth $28,000 after buying an additional 345 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Ally Financial during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 90.35% of the company's stock.
Wall Street Analyst Weigh In
ALLY has been the subject of several research reports. TheStreet upgraded shares of Ally Financial from a "c" rating to a "b-" rating in a report on Thursday, February 2nd. Citigroup lifted their target price on shares of Ally Financial from $34.00 to $45.00 in a report on Sunday, January 22nd. Wells Fargo & Company dropped their target price on shares of Ally Financial from $22.00 to $20.00 and set an "underweight" rating for the company in a report on Tuesday, January 3rd. Barclays lifted their target price on shares of Ally Financial from $33.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ally Financial from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, January 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.24.
Ally Financial Price Performance
Ally Financial stock opened at $23.05 on Tuesday. Ally Financial Inc. has a 52-week low of $22.02 and a 52-week high of $45.65. The firm has a fifty day moving average of $29.94 and a 200-day moving average of $28.70. The firm has a market capitalization of $6.93 billion, a P/E ratio of 4.64 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.69.
Ally Financial (NYSE:ALLY - Get Rating) last released its quarterly earnings data on Friday, January 20th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10. Ally Financial had a net margin of 20.34% and a return on equity of 17.98%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, analysts predict that Ally Financial Inc. will post 3.65 EPS for the current year.
Ally Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Tuesday, January 31st. Ally Financial's payout ratio is 24.14%.
Ally Financial Company Profile
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Ally Financial, Inc engages in the provision of online banking, securities brokerage, and investment advisory services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, Corporate Finance Operations, and Corporate and Other. The Automotive Finance Operations segment offers retail installment sales contracts, loans, and operating leases, offering term loans to dealers, financing dealer floor plans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.
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