Zurcher Kantonalbank Zurich Cantonalbank Has $6.36 Million Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 66.9% in the 4th quarter, HoldingsChannel reports. The firm owned 182,102 shares of the financial services provider’s stock after selling 368,504 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ally Financial were worth $6,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp boosted its position in shares of Ally Financial by 34.2% in the third quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock valued at $83,309,000 after acquiring an additional 795,754 shares during the period. Private Management Group Inc. boosted its holdings in Ally Financial by 9.4% in the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 70,615 shares during the period. ING Groep NV acquired a new position in shares of Ally Financial during the 3rd quarter worth approximately $4,336,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Ally Financial during the 3rd quarter worth approximately $724,000. Finally, Nordea Investment Management AB increased its holdings in shares of Ally Financial by 8.1% during the fourth quarter. Nordea Investment Management AB now owns 23,442 shares of the financial services provider’s stock worth $816,000 after purchasing an additional 1,755 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Price Performance

Ally Financial stock opened at $39.05 on Friday. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.57 and a beta of 1.40. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $41.56. The stock’s 50 day moving average price is $37.71 and its two-hundred day moving average price is $32.97. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Ally Financial Inc. will post 2.92 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 48.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALLY. Raymond James downgraded Ally Financial from a “market perform” rating to an “underperform” rating in a research report on Friday, January 5th. TD Cowen increased their target price on Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Ally Financial from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. TheStreet upgraded Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ally Financial in a research note on Wednesday, January 10th. They issued a “buy” rating and a $47.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has a consensus rating of “Hold” and a consensus target price of $38.47.

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.