New York Life Investment Management LLC Reduces Holdings in Ally Financial Inc. (NYSE:ALLY)

New York Life Investment Management LLC reduced its position in Ally Financial Inc. (NYSE:ALLY) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,696 shares of the financial services provider’s stock after selling 1,446 shares during the period. New York Life Investment Management LLC’s holdings in Ally Financial were worth $1,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALLY. Ancient Art L.P. acquired a new stake in shares of Ally Financial during the third quarter worth approximately $41,429,000. Bank of New York Mellon Corp raised its stake in shares of Ally Financial by 47.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,620,655 shares of the financial services provider’s stock valued at $96,599,000 after purchasing an additional 1,165,220 shares in the last quarter. FMR LLC lifted its position in shares of Ally Financial by 47.1% during the third quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock worth $88,484,000 after purchasing an additional 1,061,651 shares during the last quarter. Principal Financial Group Inc. grew its stake in Ally Financial by 4,867.7% in the third quarter. Principal Financial Group Inc. now owns 1,001,294 shares of the financial services provider’s stock worth $26,715,000 after purchasing an additional 981,138 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Ally Financial in the fourth quarter valued at about $27,975,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALLY has been the topic of a number of research analyst reports. Compass Point increased their target price on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on shares of Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $46.00 in a report on Tuesday, April 9th. Evercore ISI raised their target price on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.47.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $39.40 on Wednesday. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.57 and a beta of 1.39. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $41.56. The stock’s 50 day moving average price is $38.43 and its 200 day moving average price is $34.23.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 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 company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Ally Financial Inc. will post 2.99 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio is presently 48.98%.

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.