Denali Advisors LLC Decreases Position in Ally Financial Inc. (NYSE:ALLY)

Denali Advisors LLC lowered its position in shares of Ally Financial Inc. (NYSE:ALLY) by 18.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,392 shares of the financial services provider’s stock after selling 310 shares during the period. Denali Advisors LLC’s holdings in Ally Financial were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in shares of Ally Financial by 22.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock worth $96,129,000 after buying an additional 495,584 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Ally Financial by 18.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock worth $58,040,000 after buying an additional 261,897 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings 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 worth $4,031,000 after buying an additional 75,063 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Ally Financial by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock valued at $3,187,000 after purchasing an additional 13,352 shares in the last quarter. Finally, Norges Bank purchased a new position in Ally Financial during the fourth quarter valued at approximately $62,869,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ALLY. Citigroup began coverage on shares of Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 price target on the stock. TD Cowen lifted their price target on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Compass Point lifted their price target on shares of Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Evercore ISI lifted their price target on shares of Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and an average price target of $41.18.

Ally Financial Price Performance

Ally Financial stock traded up $0.14 during mid-day trading on Wednesday, reaching $40.45. 1,142,957 shares of the company’s stock traded hands, compared to its average volume of 3,391,010. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.48 and a beta of 1.42. The stock has a 50 day moving average of $39.31 and a two-hundred day moving average of $37.57. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.77.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Ally Financial’s revenue was down 5.4% on a year-over-year basis. Equities analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 48.98%.

Ally Financial Company 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.