1832 Asset Management L.P. Sells 1,850 Shares of Ally Financial Inc. (NYSE:ALLY)

1832 Asset Management L.P. cut its holdings in Ally Financial Inc. (NYSE:ALLY) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,755 shares of the financial services provider’s stock after selling 1,850 shares during the quarter. 1832 Asset Management L.P.’s holdings in Ally Financial were worth $1,299,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Ally Financial by 17.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock worth $964,000 after buying an additional 4,021 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Ally Financial by 3.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 132,001 shares of the financial services provider’s stock worth $4,609,000 after acquiring an additional 4,768 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Ally Financial by 17.6% during the fourth quarter. United Services Automobile Association now owns 20,579 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 3,083 shares in the last quarter. TD Asset Management Inc raised its position in shares of Ally Financial by 28.5% in the 4th quarter. TD Asset Management Inc now owns 49,093 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 10,895 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Ally Financial by 18.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock worth $58,040,000 after purchasing an additional 261,897 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ALLY shares. Royal Bank of Canada decreased their target price on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Barclays decreased their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Morgan Stanley cut their target price on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods decreased their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Bank of America dropped their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.76.

Ally Financial Trading Up 0.5 %

Shares of ALLY stock opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.37 and a beta of 1.40. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $45.46. The firm has a fifty day moving average price of $39.96 and a 200-day moving average price of $39.58.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. Ally Financial’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Ally Financial Inc. will post 3.15 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is currently 48.98%.

Ally Financial Company 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.