Pictet Asset Management SA Sells 24,600 Shares of Ally Financial Inc. (NYSE:ALLY)

Pictet Asset Management SA lessened its position in Ally Financial Inc. (NYSE:ALLYGet Rating) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,347 shares of the financial services provider’s stock after selling 24,600 shares during the quarter. Pictet Asset Management SA’s holdings in Ally Financial were worth $4,603,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALLY. Atria Investments LLC bought a new position in Ally Financial in the 1st quarter worth $1,069,000. Verdence Capital Advisors LLC acquired a new stake in Ally Financial in the 1st quarter worth $212,000. Sandy Spring Bank grew its position in Ally Financial by 28.6% in the 1st quarter. Sandy Spring Bank now owns 2,250 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 500 shares during the last quarter. Arizona State Retirement System grew its position in Ally Financial by 3.3% in the 1st quarter. Arizona State Retirement System now owns 101,446 shares of the financial services provider’s stock worth $4,411,000 after purchasing an additional 3,283 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its position in Ally Financial by 9.8% in the 1st quarter. Ausdal Financial Partners Inc. now owns 6,462 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 91.57% of the company’s stock.

Ally Financial Trading Down 0.8 %

Shares of ALLY stock opened at $26.01 on Friday. Ally Financial Inc. has a 12-month low of $24.83 and a 12-month high of $53.83. The company has a market capitalization of $7.77 billion, a P/E ratio of 4.39, a P/E/G ratio of 0.14 and a beta of 1.29. The firm has a 50-day moving average price of $28.70 and a 200 day moving average price of $33.46. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.64.

Ally Financial (NYSE:ALLYGet Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.61). Ally Financial had a return on equity of 19.51% and a net margin of 24.78%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Research analysts forecast that Ally Financial Inc. will post 6.05 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, October 31st. Ally Financial’s dividend payout ratio is presently 20.24%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of Ally Financial from $66.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. S&P Equity Research set a $29.50 price target on shares of Ally Financial in a research report on Monday, November 14th. Compass Point lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 26th. Wells Fargo & Company lowered shares of Ally Financial from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $32.00 to $23.00 in a research report on Thursday, October 20th. Finally, Barclays decreased their target price on shares of Ally Financial from $49.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus price target of $37.42.

Insiders Place Their Bets

In related news, Director Marjorie Magner bought 2,000 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was bought at an average cost of $27.43 per share, with a total value of $54,860.00. Following the completion of the purchase, the director now owns 55,603 shares in the company, valued at approximately $1,525,190.29. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Ally Financial Profile

(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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