CIBC Asset Management Inc Cuts Position in Ally Financial Inc. (NYSE:ALLY)

CIBC Asset Management Inc trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,386 shares of the financial services provider’s stock after selling 2,542 shares during the period. CIBC Asset Management Inc’s holdings in Ally Financial were worth $537,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Spire Wealth Management raised its stake in Ally Financial by 11.4% during the third quarter. Spire Wealth Management now owns 4,146 shares of the financial services provider’s stock valued at $111,000 after buying an additional 425 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Ally Financial by 229.4% during the third quarter. Atria Wealth Solutions Inc. now owns 29,750 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 20,719 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Ally Financial by 2.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 34,783 shares of the financial services provider’s stock worth $928,000 after purchasing an additional 848 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Ally Financial by 7.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 33,640 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in Ally Financial during the 3rd quarter valued at about $234,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $38.64 on Monday. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.77. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.47 and a beta of 1.41. 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 firm has a 50 day moving average of $38.86 and a 200 day moving average of $36.42.

Ally Financial (NYSE:ALLYGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. The business had revenue of $1.99 billion for 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 company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. On average, research analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, April 30th. Ally Financial’s payout ratio is 48.98%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. Wells Fargo & Company upped their price objective on Ally Financial from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Compass Point boosted their price target on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, BTIG Research initiated coverage on Ally Financial in a research report on Friday. They set a “buy” rating and a $51.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.17.

Read Our Latest Analysis on Ally Financial

Ally Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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