Swedbank AB Sells 1,923 Shares of Ally Financial Inc. (NYSE:ALLY)

Swedbank AB lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,179 shares of the financial services provider’s stock after selling 1,923 shares during the period. Swedbank AB’s holdings in Ally Financial were worth $5,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Ally Financial by 245.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock worth $24,687,000 after purchasing an additional 432,350 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Ally Financial in the first quarter worth about $219,000. Tidal Investments LLC boosted its position in Ally Financial by 68.3% during the 1st quarter. Tidal Investments LLC now owns 111,790 shares of the financial services provider’s stock valued at $4,538,000 after acquiring an additional 45,381 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Ally Financial during the 1st quarter worth approximately $260,000. Finally, Virtu Financial LLC bought a new position in shares of Ally Financial in the 1st quarter worth approximately $222,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

ALLY opened at $39.49 on Thursday. The company’s 50-day simple moving average is $35.70 and its two-hundred day simple moving average is $38.65. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $12.03 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.46 and a beta of 1.40. Ally Financial Inc. has a 52-week low of $26.50 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s payout ratio is currently 48.00%.

Analyst Upgrades and Downgrades

ALLY has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Citigroup increased their price target on shares of Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Evercore ISI decreased their target price on shares of 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, JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.69.

Ally Financial 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.