First Manhattan Co. cut its stake in Ally Financial Inc (NYSE:ALLY) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,376,133 shares of the financial services provider’s stock after selling 57,508 shares during the quarter. First Manhattan Co. owned 0.80% of Ally Financial worth $89,298,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Stifel Financial Corp raised its position in Ally Financial by 13.4% during the first quarter. Stifel Financial Corp now owns 20,086 shares of the financial services provider’s stock valued at $547,000 after acquiring an additional 2,381 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Ally Financial during the 1st quarter worth about $223,000. Allianz Asset Management GmbH raised its holdings in Ally Financial by 12.0% during the 1st quarter. Allianz Asset Management GmbH now owns 7,378,519 shares of the financial services provider’s stock worth $200,327,000 after purchasing an additional 787,975 shares during the last quarter. Platinum Investment Management Ltd. increased its stake in shares of Ally Financial by 26.5% in the 1st quarter. Platinum Investment Management Ltd. now owns 3,977,100 shares of the financial services provider’s stock valued at $107,978,000 after acquiring an additional 834,200 shares during the last quarter. Finally, Ostrum Asset Management bought a new stake in shares of Ally Financial in the 1st quarter valued at about $221,000. 98.73% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the company. TheStreet raised Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, July 19th. Oppenheimer set a $32.00 price objective on Ally Financial and gave the stock a “buy” rating in a research report on Thursday, October 25th. ValuEngine lowered Ally Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Nomura lowered their target price on Ally Financial from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.72.
Shares of NYSE ALLY opened at $25.91 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.48. Ally Financial Inc has a 1-year low of $23.69 and a 1-year high of $31.29. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.61 and a beta of 1.23.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Ally Financial had a return on equity of 10.25% and a net margin of 16.87%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts predict that Ally Financial Inc will post 3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.60 annualized dividend and a dividend yield of 2.32%. Ally Financial’s dividend payout ratio (DPR) is presently 25.10%.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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