Raymond James Financial Services Advisors Inc. Reduces Stake in Ally Financial Inc. (NYSE:ALLY)

Raymond James Financial Services Advisors Inc. lowered its holdings in Ally Financial Inc. (NYSE:ALLY) by 31.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,820 shares of the financial services provider’s stock after selling 14,779 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ally Financial were worth $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ALLY. Comerica Bank purchased a new position in Ally Financial during the 2nd quarter worth approximately $6,675,000. Northern Trust Corp grew its stake in Ally Financial by 34.2% during the 3rd quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock worth $83,309,000 after buying an additional 795,754 shares during the last quarter. Private Management Group Inc. grew its stake in Ally Financial by 9.4% during the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock worth $21,855,000 after buying an additional 70,615 shares during the last quarter. ING Groep NV purchased a new position in Ally Financial during the 3rd quarter worth approximately $4,336,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Ally Financial during the 3rd quarter worth approximately $724,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

NYSE ALLY opened at $37.23 on Friday. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $41.56. The company has a market capitalization of $11.32 billion, a P/E ratio of 12.45, a PEG ratio of 0.55 and a beta of 1.40. The business has a 50 day moving average price of $37.57 and a 200 day moving average price of $32.58. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Ally Financial had a return on equity of 9.41% and a net margin of 12.42%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the business posted $1.08 EPS. Sell-side analysts expect that Ally Financial Inc. will post 2.96 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, January 31st. Ally Financial’s payout ratio is 40.13%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $42.00 to $46.00 in a research note on Tuesday, April 9th. Barclays increased their price objective on Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Company increased their price objective on Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday. Compass Point increased their price objective on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ally Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $47.00 price objective for the company. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average target price of $37.59.

Ally Financial Company 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.