The Manufacturers Life Insurance Company Sells 44,835 Shares of Ally Financial Inc. (NYSE:ALLY)

The Manufacturers Life Insurance Company lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 17.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 217,039 shares of the financial services provider’s stock after selling 44,835 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ally Financial were worth $7,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC raised its stake in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 526 shares in the last quarter. Venturi Wealth Management LLC raised its position in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Ally Financial during the 2nd quarter worth $41,000. Allworth Financial LP grew its position in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Ally Financial during the 2nd quarter worth $52,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Down 0.7 %

Shares of ALLY opened at $38.83 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial Inc. has a 12 month low of $29.05 and a 12 month high of $45.46. The stock’s 50 day moving average is $36.18 and its two-hundred day moving average is $38.61. The firm has a market cap of $11.83 billion, a P/E ratio of 15.53, a PEG ratio of 0.47 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Analysts predict that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.09%. Ally Financial’s payout ratio is 48.00%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of recent research reports. Morgan Stanley dropped their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Keefe, Bruyette & Woods dropped their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI decreased their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Hold” and an average target price of $40.80.

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.