Bank of New York Mellon Corp Raises Holdings in Ally Financial Inc. (NYSE:ALLY)

Bank of New York Mellon Corp lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,697,251 shares of the financial services provider’s stock after purchasing an additional 31,491 shares during the quarter. Bank of New York Mellon Corp owned about 1.22% of Ally Financial worth $146,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ALLY. Fifth Third Bancorp grew its stake in Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 278 shares during the last quarter. Trust Co. of Toledo NA OH increased its holdings in Ally Financial by 1.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after buying an additional 287 shares during the period. WBI Investments LLC raised its position in Ally Financial by 2.2% during the 4th quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider’s stock worth $511,000 after buying an additional 316 shares during the last quarter. Signet Financial Management LLC lifted its stake in Ally Financial by 4.8% during the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 330 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Ally Financial by 10.2% in the 2nd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 400 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Trading Down 1.6 %

ALLY opened at $42.87 on Tuesday. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. The company’s 50 day simple moving average is $41.50 and its two-hundred day simple moving average is $39.46. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Analysts expect that Ally Financial Inc. will post 3.42 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is currently 48.98%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Ally Financial from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Barclays boosted their price objective on Ally Financial from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods raised their target price on Ally Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Finally, Evercore ISI lifted their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Ally Financial presently has an average rating of “Hold” and a consensus price target of $42.78.

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.