Bank of Montreal Can Sells 18,029 Shares of Ally Financial Inc. (NYSE:ALLY)

Bank of Montreal Can reduced its position in shares of Ally Financial Inc. (NYSE:ALLY) by 25.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,744 shares of the financial services provider’s stock after selling 18,029 shares during the quarter. Bank of Montreal Can’s holdings in Ally Financial were worth $2,098,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Ally Financial by 245.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after purchasing an additional 432,350 shares during the period. OLD National Bancorp IN raised its position in shares of Ally Financial by 3.8% in the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after purchasing an additional 32,478 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock valued at $14,988,000 after purchasing an additional 49,539 shares during the period. Banque Cantonale Vaudoise raised its position in shares of Ally Financial by 309.5% in the first quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock valued at $4,031,000 after purchasing an additional 75,063 shares during the period. Finally, Fulton Bank N.A. bought a new position in shares of Ally Financial in the second quarter valued at about $689,000. 88.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALLY has been the topic of several research analyst reports. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upgraded shares of Ally Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Morgan Stanley decreased their price target on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. TD Cowen decreased their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.38.

Ally Financial Stock Down 0.2 %

ALLY stock opened at $34.46 on Friday. The stock has a market capitalization of $10.47 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $45.46. The firm has a 50-day moving average price of $39.06 and a 200-day moving average price of $39.44.

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

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. Ally Financial’s dividend payout ratio (DPR) is presently 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.