Pictet Asset Management SA lessened its stake in Ally Financial Inc. (NYSE:ALLY – Get Rating) by 15.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,347 shares of the financial services provider’s stock after selling 24,600 shares during the quarter. Pictet Asset Management SA’s holdings in Ally Financial were worth $4,603,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in shares of Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after buying an additional 345 shares during the period. Tobam acquired a new position in Ally Financial during the second quarter worth $32,000. Truvestments Capital LLC acquired a new position in Ally Financial during the second quarter worth $33,000. Atticus Wealth Management LLC acquired a new position in Ally Financial during the second quarter worth $39,000. Finally, Institutional & Family Asset Management LLC acquired a new position in Ally Financial during the first quarter worth $51,000. Institutional investors and hedge funds own 91.57% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. S&P Equity Research set a $29.50 target price on shares of Ally Financial in a report on Monday, November 14th. Stephens reduced their target price on shares of Ally Financial from $39.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, October 20th. Royal Bank of Canada reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Compass Point lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 26th. Finally, Raymond James lowered shares of Ally Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.42.
Ally Financial Price Performance
Ally Financial (NYSE:ALLY – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.61). Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the company posted $2.16 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Ally Financial Inc. will post 6.05 EPS for the current year.
Ally Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.30 dividend. The ex-dividend date was Monday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 4.61%. Ally Financial’s dividend payout ratio (DPR) is presently 20.24%.
Insider Activity at Ally Financial
In other Ally Financial news, Director Marjorie Magner purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were acquired at an average cost of $27.43 per share, for a total transaction of $54,860.00. Following the completion of the purchase, the director now owns 55,603 shares of the company’s stock, valued at approximately $1,525,190.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.
Ally Financial Profile
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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