State of Alaska Department of Revenue Lowers Stake in Ally Financial Inc. (NYSE:ALLY)

State of Alaska Department of Revenue reduced its stake in shares of Ally Financial Inc. (NYSE:ALLYGet Rating) by 21.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,550 shares of the financial services provider’s stock after selling 24,460 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ally Financial were worth $3,034,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. lifted its stake in Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 345 shares during the period. Versant Capital Management Inc lifted its stake in Ally Financial by 1,510.6% in the first quarter. Versant Capital Management Inc now owns 1,063 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 997 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in Ally Financial in the first quarter worth about $51,000. DeDora Capital Inc. purchased a new stake in Ally Financial in the first quarter worth about $64,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Ally Financial in the first quarter worth about $66,000. 91.57% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

ALLY opened at $30.68 on Friday. Ally Financial Inc. has a 52-week low of $30.44 and a 52-week high of $56.28. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. The company has a market cap of $9.47 billion, a P/E ratio of 4.42, a price-to-earnings-growth ratio of 0.14 and a beta of 1.31. The firm’s 50-day moving average price is $33.57 and its 200-day moving average price is $37.79.

Ally Financial (NYSE:ALLYGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.14). Ally Financial had a return on equity of 20.99% and a net margin of 29.79%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company posted $2.33 EPS. As a group, equities analysts anticipate that Ally Financial Inc. will post 7.16 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.20 annualized dividend and a yield of 3.91%. Ally Financial’s dividend payout ratio (DPR) is presently 17.29%.

Analyst Ratings Changes

ALLY has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Ally Financial from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, September 15th. Keefe, Bruyette & Woods reduced their target price on shares of Ally Financial from $63.00 to $47.00 in a report on Monday, July 11th. Evercore ISI downgraded shares of Ally Financial from an “outperform” rating to an “in-line” rating and set a $36.00 target price for the company. in a report on Wednesday, July 20th. Compass Point reduced their target price on shares of Ally Financial to $54.00 in a report on Monday, July 4th. Finally, Credit Suisse Group reduced their target price on shares of Ally Financial to $55.00 in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.14.

About Ally Financial

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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

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