Retirement Systems of Alabama Cuts Stock Position in Ally Financial Inc. (NYSE:ALLY)

Retirement Systems of Alabama trimmed its position in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333,093 shares of the financial services provider’s stock after selling 4,575 shares during the period. Retirement Systems of Alabama owned about 0.11% of Ally Financial worth $11,855,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALLY. Janney Montgomery Scott LLC grew its stake in shares of Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after buying an additional 28,114 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Ally Financial during the 3rd quarter worth approximately $1,338,000. Wealth Enhancement Advisory Services LLC increased its stake in Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 18,671 shares during the period. Point72 Asset Management L.P. bought a new stake in Ally Financial in the third quarter valued at approximately $21,571,000. Finally, Private Management Group Inc. boosted its stake in shares of Ally Financial by 3.1% during the third quarter. Private Management Group Inc. now owns 721,693 shares of the financial services provider’s stock valued at $25,685,000 after purchasing an additional 21,846 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Evercore ISI cut their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Keefe, Bruyette & Woods upped their price target on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.73.

View Our Latest Stock Analysis on Ally Financial

Ally Financial Trading Down 0.2 %

NYSE:ALLY opened at $37.60 on Tuesday. The firm has a market capitalization of $11.46 billion, a P/E ratio of 15.04, a PEG ratio of 0.46 and a beta of 1.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a one year low of $31.77 and a one year high of $45.46. The company’s 50-day simple moving average is $36.70 and its 200 day simple moving average is $38.58.

Ally Financial (NYSE:ALLYGet Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.00%.

Ally Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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