Sterneck Capital Management LLC Lowers Stock Position in Ally Financial Inc. $ALLY

Sterneck Capital Management LLC lessened its position in shares of Ally Financial Inc. (NYSE:ALLY) by 5.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,206 shares of the financial services provider’s stock after selling 553 shares during the period. Sterneck Capital Management LLC’s holdings in Ally Financial were worth $398,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Ally Financial during the 1st quarter worth about $25,000. Copia Wealth Management acquired a new position in Ally Financial in the 1st quarter worth about $27,000. SVB Wealth LLC purchased a new position in Ally Financial during the first quarter worth approximately $27,000. Private Trust Co. NA boosted its position in Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 509 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Price Performance

ALLY stock opened at $40.18 on Friday. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.83. The firm has a market capitalization of $12.37 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 0.31 and a beta of 1.14. The business has a 50 day simple moving average of $40.08 and a 200-day simple moving average of $37.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.21. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. Ally Financial’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. Equities research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. Ally Financial’s dividend payout ratio is currently 77.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALLY shares. Wells Fargo & Company raised Ally Financial from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $37.00 to $45.00 in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Morgan Stanley restated an “overweight” rating and set a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Ally Financial in a research report on Monday, July 14th. Finally, Truist Financial lifted their price target on Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.43.

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.