Wedge Capital Management L L P NC lowered its stake in Ally Financial Inc. (NYSE:ALLY – Free Report) by 4.8% during the second quarter, HoldingsChannel reports. The firm owned 820,960 shares of the financial services provider’s stock after selling 41,056 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ally Financial were worth $37,723,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ally Financial in the fourth quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Ally Financial during the 4th quarter valued at about $35,000. Safe Harbor Fiduciary LLC purchased a new stake in Ally Financial during the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd acquired a new position in Ally Financial during the fourth quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. raised its position in Ally Financial by 30.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.
Ally Financial Stock Up 0.4%
ALLY stock opened at $43.97 on Wednesday. Ally Financial Inc. has a 1 year low of $35.92 and a 1 year high of $47.29. The company has a fifty day simple moving average of $44.67 and a 200 day simple moving average of $42.55. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market cap of $13.38 billion, a PE ratio of 10.37, a PEG ratio of 0.27 and a beta of 1.10.
Ally Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Ally Financial’s payout ratio is currently 28.30%.
Wall Street Analysts Forecast Growth
ALLY has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Ally Financial in a research note on Wednesday, July 22nd. The Goldman Sachs Group boosted their target price on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Morgan Stanley upped their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.64.
View Our Latest Report on ALLY
Insider Transactions at Ally Financial
In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the sale, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.
Ally Financial Company Profile
Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.
In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.
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