American International Group Inc. Sells 7,346 Shares of Ally Financial Inc. (NYSE:ALLY)

American International Group Inc. decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,337 shares of the financial services provider’s stock after selling 7,346 shares during the period. American International Group Inc.’s holdings in Ally Financial were worth $14,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALLY. Scout Investments Inc. bought a new position in Ally Financial during the fourth quarter valued at approximately $63,080,000. Norges Bank bought a new position in Ally Financial during the fourth quarter valued at approximately $62,869,000. Jennison Associates LLC purchased a new stake in Ally Financial during the first quarter valued at approximately $52,252,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ally Financial during the fourth quarter valued at approximately $27,975,000. Finally, Donald Smith & CO. Inc. raised its position in Ally Financial by 22.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock valued at $96,129,000 after purchasing an additional 495,584 shares during the period. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Up 3.6 %

NYSE ALLY traded up $1.54 during midday trading on Thursday, hitting $43.78. 1,123,235 shares of the company traded hands, compared to its average volume of 3,368,004. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $13.31 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $44.50. The company’s 50-day simple moving average is $40.10 and its 200-day simple moving average is $38.37.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share 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 return on equity of 8.37% and a net margin of 10.26%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. As a group, equities research analysts forecast that Ally Financial Inc. will post 3.42 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a $0.30 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. Ally Financial’s payout ratio is 48.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Ally Financial from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Morgan Stanley upped their price objective on Ally Financial from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Evercore ISI upped their price objective on Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Barclays increased their price target on Ally Financial from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.78.

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.