Truist Financial Corp Cuts Holdings in Ally Financial Inc. $ALLY

Truist Financial Corp trimmed its position in shares of Ally Financial Inc. (NYSE:ALLY) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,233 shares of the financial services provider’s stock after selling 1,004 shares during the quarter. Truist Financial Corp’s holdings in Ally Financial were worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Ally Financial in the 1st quarter worth $253,881,000. Millennium Management LLC increased its stake in Ally Financial by 234.7% in the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock worth $136,838,000 after buying an additional 2,630,981 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Ally Financial by 6,675.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,243,773 shares of the financial services provider’s stock worth $48,445,000 after buying an additional 1,225,415 shares in the last quarter. AQR Capital Management LLC increased its stake in Ally Financial by 173.2% in the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider’s stock worth $49,984,000 after buying an additional 873,380 shares in the last quarter. Finally, Amundi increased its stake in Ally Financial by 53.9% in the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider’s stock worth $64,866,000 after buying an additional 622,601 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Trading Down 5.7%

ALLY opened at $36.96 on Friday. The firm has a market cap of $11.38 billion, a P/E ratio of 24.00, a P/E/G ratio of 0.31 and a beta of 1.18. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $44.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $40.21 and a 200 day moving average of $37.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. The company had revenue of $2.06 billion during the quarter. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%. As a group, research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 annualized dividend and a yield of 3.2%. Ally Financial’s dividend payout ratio (DPR) is presently 77.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALLY shares. Truist Financial increased their price target on Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. BTIG Research upgraded Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Ally Financial in a research report on Saturday, September 27th. JPMorgan Chase & Co. cut their price objective on Ally Financial from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Evercore ISI cut their price objective on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $45.14.

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.