California Public Employees Retirement System Has $17.44 Million Holdings in Ally Financial Inc. (NYSE:ALLY)

California Public Employees Retirement System trimmed its position in Ally Financial Inc. (NYSE:ALLY) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,364 shares of the financial services provider’s stock after selling 35,363 shares during the quarter. California Public Employees Retirement System’s holdings in Ally Financial were worth $17,438,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of Ally Financial in the 3rd quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd raised its stake in Ally Financial by 337.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,206 shares during the period. Friedenthal Financial purchased a new stake in shares of Ally Financial in the fourth quarter valued at $50,000. Rakuten Securities Inc. acquired a new stake in shares of Ally Financial in the fourth quarter worth $67,000. Finally, Planned Solutions Inc. purchased a new position in shares of Ally Financial during the fourth quarter valued at $83,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. 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 note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ally Financial in a report on Wednesday, January 10th. They set a “buy” rating and a $47.00 price target for the company. Barclays increased their target price on shares of Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut shares of Ally Financial from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $37.00 to $39.00 in a report on Wednesday, April 3rd. Finally, Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.47.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $39.16 on Tuesday. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $41.56. The firm has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $33.63. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.57 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that Ally Financial Inc. will post 2.99 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 48.98%.

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.