Ally Financial Inc. $ALLY Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,065 shares of the financial services provider’s stock after selling 1,125 shares during the period. State of Alaska Department of Revenue’s holdings in Ally Financial were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ALLY. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ally Financial during the 1st quarter worth about $1,998,000. Teacher Retirement System of Texas acquired a new stake in shares of Ally Financial during the 1st quarter worth about $1,462,000. Bessemer Group Inc. raised its position in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 377 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ally Financial by 40.6% during the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 952 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Ally Financial by 56.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider’s stock worth $2,466,000 after acquiring an additional 24,372 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI cut their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a research report on Tuesday. Citigroup raised their target price on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ally Financial in a research report on Monday, July 14th. Keefe, Bruyette & Woods dropped their price target on Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley raised their price target on Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and an average target price of $45.36.

Ally Financial Trading Up 1.9%

Shares of ALLY stock opened at $39.58 on Friday. The business’s 50 day moving average is $40.12 and its two-hundred day moving average is $37.33. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $44.83. The company has a market capitalization of $12.18 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 0.31 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 1st. Ally Financial’s dividend payout ratio (DPR) is 77.92%.

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.