Ally Financial Inc. $ALLY Shares Sold by Legacy Trust

Legacy Trust cut its position in Ally Financial Inc. (NYSE:ALLY) by 10.9% in the second quarter, Holdings Channel reports. The firm owned 98,309 shares of the financial services provider’s stock after selling 12,052 shares during the period. Legacy Trust’s holdings in Ally Financial were worth $3,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. 111 Capital acquired a new stake in shares of Ally Financial in the 2nd quarter valued at about $490,000. Janney Montgomery Scott LLC boosted its position in shares of Ally Financial by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 68,926 shares of the financial services provider’s stock valued at $2,685,000 after purchasing an additional 1,296 shares during the period. True North Advisors LLC boosted its position in shares of Ally Financial by 61.8% in the 2nd quarter. True North Advisors LLC now owns 20,503 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 7,833 shares during the period. GAMMA Investing LLC boosted its position in shares of Ally Financial by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,821 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 1,526 shares during the period. Finally, Sweeney & Michel LLC acquired a new stake in shares of Ally Financial in the 2nd quarter valued at about $259,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Up 1.9%

ALLY opened at $39.58 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $40.12 and a 200-day simple moving average of $37.33. The stock has a market capitalization of $12.18 billion, a P/E ratio of 25.70, a P/E/G ratio of 0.31 and a beta of 1.18. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $44.83.

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

Ally Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on ALLY. Wells Fargo & Company raised Ally Financial from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $37.00 to $45.00 in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their price objective on Ally Financial from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ally Financial in a research report on Saturday, September 27th. Keefe, Bruyette & Woods decreased their price objective on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Evercore ISI decreased their price objective on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $45.36.

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.