Royal London Asset Management Ltd. Sells 10,623 Shares of Ally Financial Inc. (NYSE:ALLY)

Royal London Asset Management Ltd. lowered its holdings in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,706 shares of the financial services provider’s stock after selling 10,623 shares during the period. Royal London Asset Management Ltd.’s holdings in Ally Financial were worth $4,355,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Donald Smith & CO. Inc. boosted its position in Ally Financial by 22.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock valued at $96,129,000 after buying an additional 495,584 shares during the period. Allianz Asset Management GmbH boosted its position in Ally Financial by 18.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock valued at $58,040,000 after buying an additional 261,897 shares during the period. Northern Trust Corp boosted its position 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 valued at $83,309,000 after buying an additional 795,754 shares during the period. Victory Capital Management Inc. boosted its position in Ally Financial by 17.1% during the 4th quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock valued at $3,187,000 after buying an additional 13,352 shares during the period. Finally, Norges Bank purchased a new stake in Ally Financial during the 4th quarter valued at $62,869,000. Institutional investors own 88.76% of the company’s stock.

Analysts Set New Price Targets

ALLY has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Ally Financial from a “neutral” rating to an “underweight” rating and increased their price target for the company from $37.00 to $39.00 in a research report on Wednesday, April 3rd. BTIG Research started coverage on shares of Ally Financial in a research report on Friday. They issued a “buy” rating and a $51.00 target price for the company. TD Cowen raised their target price on shares of Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wells Fargo & Company raised their target price on shares of Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, 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 research report on Thursday, March 28th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ally Financial presently has a consensus rating of “Hold” and an average target price of $39.17.

Read Our Latest Report on Ally Financial

Ally Financial Stock Up 0.5 %

NYSE:ALLY opened at $38.64 on Monday. The firm has a market cap of $11.75 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.47 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $41.77. The firm has a 50-day simple moving average of $38.86 and a two-hundred day simple moving average of $36.42.

Ally Financial (NYSE:ALLYGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. Ally Financial’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. Analysts predict that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

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

About Ally Financial

(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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