Gabelli Funds LLC Trims Position in Ally Financial Inc. (NYSE:ALLY)

Gabelli Funds LLC lessened its position in shares of Ally Financial Inc. (NYSE:ALLY) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,290 shares of the financial services provider’s stock after selling 3,750 shares during the quarter. Gabelli Funds LLC’s holdings in Ally Financial were worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALLY. Northwest Financial Advisors purchased a new stake in Ally Financial during the fourth quarter valued at $31,000. Rise Advisors LLC purchased a new stake in Ally Financial in the first quarter worth about $32,000. Quarry LP increased its position in Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after buying an additional 598 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in Ally Financial by 571.7% in the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after buying an additional 789 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in Ally Financial in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Up 1.5 %

Shares of NYSE:ALLY traded up $0.64 during trading on Friday, hitting $43.99. The company had a trading volume of 1,988,217 shares, compared to its average volume of 3,126,937. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41. Ally Financial Inc. has a one year low of $22.54 and a one year high of $44.50. The company has a fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $38.49. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.33. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. As a group, equities analysts forecast that Ally Financial Inc. will post 3.42 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.73%. Ally Financial’s payout ratio is 48.98%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of analyst reports. Citigroup initiated coverage on Ally Financial in a research report on Monday, June 24th. They issued a “buy” rating and a $50.00 price target for the company. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $42.00 to $46.00 in a research report on Tuesday, April 9th. Compass Point increased their target price on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company increased their target price on Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.78.

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.