IFP Advisors Inc reduced its position in Ally Financial Inc. (NYSE:ALLY – Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 20,273 shares of the financial services provider’s stock after selling 734 shares during the period. IFP Advisors Inc’s holdings in Ally Financial were worth $867,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ALLY. WPG Advisers LLC acquired a new stake in shares of Ally Financial in the 1st quarter valued at $25,000. Copia Wealth Management bought a new position in Ally Financial during the first quarter worth about $27,000. SVB Wealth LLC bought a new position in Ally Financial during the first quarter worth about $27,000. Private Trust Co. NA raised its stake in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 509 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Ally Financial by 59.6% in the 1st 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. 88.76% of the stock is owned by institutional investors and hedge funds.
Ally Financial Stock Performance
NYSE ALLY opened at $37.89 on Tuesday. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.29 and a beta of 1.18. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $44.83. The stock has a fifty day simple moving average of $40.22 and a 200 day simple moving average of $37.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.
Ally Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ally Financial’s dividend payout ratio is 77.92%.
Analysts Set New Price Targets
ALLY has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ally Financial in a research report on Monday, July 14th. Keefe, Bruyette & Woods lowered their price target on Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $37.00 to $45.00 in a report on Tuesday, September 2nd. Evercore ISI cut their price target on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research note on Tuesday, September 30th. Finally, Citigroup boosted their price target on Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.14.
Read Our Latest Report on Ally Financial
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.
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