Allspring Global Investments Holdings LLC Lowers Stake in Ally Financial Inc. (NYSE:ALLY)

Allspring Global Investments Holdings LLC lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 21.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,254 shares of the financial services provider’s stock after selling 3,980 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ally Financial were worth $396,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA boosted its position in shares of Ally Financial by 99.8% during the 3rd quarter. Private Trust Co. NA now owns 891 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 445 shares during the period. Syverson Strege & Co purchased a new position in Ally Financial in the 2nd quarter valued at approximately $26,000. Denali Advisors LLC purchased a new position in Ally Financial in the 3rd quarter valued at approximately $28,000. Salem Investment Counselors Inc. boosted its position in Ally Financial by 115.0% in the 1st 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. Finally, Tobam purchased a new position in Ally Financial in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $31.36 on Wednesday. The company’s fifty day moving average price is $25.90 and its 200 day moving average price is $29.39. Ally Financial Inc. has a 12 month low of $22.34 and a 12 month high of $51.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $9.37 billion, a P/E ratio of 6.31 and a beta of 1.27.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $1.20 annualized dividend and a yield of 3.83%. Ally Financial’s dividend payout ratio is currently 24.14%.

Analyst Ratings Changes

Several equities analysts have commented on ALLY shares. Barclays raised their price target on shares of Ally Financial from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup raised their price target on shares of Ally Financial from $34.00 to $45.00 in a research report on Sunday. Piper Sandler raised shares of Ally Financial from an “underweight” rating to a “neutral” rating and raised their price target for the company from $25.00 to $28.00 in a research report on Monday, January 9th. Credit Suisse Group decreased their price target on shares of Ally Financial from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday. Finally, TheStreet cut shares of Ally Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, October 19th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.08.

About Ally Financial

(Get Rating)

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.