Oppenheimer Asset Management Inc. Reduces Holdings in Ally Financial Inc. (NYSE:ALLY)

Oppenheimer Asset Management Inc. lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,317 shares of the financial services provider’s stock after selling 9,099 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $4,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 278 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in shares of Ally Financial by 1.7% during the first quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 287 shares in the last quarter. WBI Investments LLC grew its stake in Ally Financial by 2.2% in the fourth quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 316 shares during the period. Signet Financial Management LLC raised its holdings in Ally Financial by 4.8% in the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 330 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Ally Financial by 10.2% during the second quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after buying an additional 400 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Up 0.2 %

Shares of Ally Financial stock opened at $33.05 on Tuesday. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $45.46. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The company’s 50 day moving average is $41.15 and its 200 day moving average is $39.72. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share 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 firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. Research analysts anticipate that Ally Financial Inc. will post 3.51 EPS for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. Ally Financial’s dividend payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods cut their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 1st. Royal Bank of Canada cut their price target on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. Finally, Wells Fargo & Company lifted their price objective on Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial has a consensus rating of “Hold” and an average target price of $41.41.

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.