Federated Hermes Inc. Sells 24,417 Shares of Ally Financial Inc. (NYSE:ALLY)

Federated Hermes Inc. cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,868 shares of the financial services provider's stock after selling 24,417 shares during the period. Federated Hermes Inc.'s holdings in Ally Financial were worth $1,183,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in Ally Financial during the 3rd quarter worth approximately $26,000. Friedenthal Financial bought a new position in Ally Financial in the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd boosted its position in Ally Financial by 337.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider's stock valued at $42,000 after buying an additional 1,206 shares during the last quarter. Rakuten Securities Inc. bought a new position in Ally Financial in the 4th quarter valued at $67,000. Finally, Planned Solutions Inc. bought a new position in Ally Financial in the 4th quarter valued at $83,000. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ALLY shares. Evercore ISI increased their price target on Ally Financial from $41.00 to $43.00 and gave the company an "in-line" rating in a research note on Thursday, March 28th. Bank of America raised Ally Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $42.00 to $46.00 in a research note on Tuesday, April 9th. TheStreet raised Ally Financial from a "c+" rating to a "b-" rating in a research note on Thursday, January 11th. Raymond James downgraded Ally Financial from a "market perform" rating to an "underperform" rating in a research note on Friday, January 5th. Finally, TD Cowen lifted their price target on Ally Financial from $42.00 to $43.00 and gave the company a "hold" rating in a research note on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $38.47.

Ally Financial Stock Performance

Ally Financial stock traded up $0.21 during midday trading on Wednesday, reaching $38.56. 3,633,425 shares of the company's stock were exchanged, compared to its average volume of 3,955,270. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $41.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 0.56 and a beta of 1.40. The stock's 50-day simple moving average is $38.18 and its 200 day simple moving average is $33.76.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter last year, the company posted $0.82 earnings per share. Ally Financial's quarterly revenue was down 5.4% on a year-over-year basis. On average, analysts expect that Ally Financial Inc. will post 2.99 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, April 30th. Ally Financial's payout ratio is currently 48.98%.

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.