Cambria Investment Management L.P. reduced its position in Ally Financial Inc. (NYSE:ALLY – Free Report) by 3.1% in the 2nd quarter, Holdings Channel reports. The firm owned 184,264 shares of the financial services provider’s stock after selling 5,944 shares during the period. Cambria Investment Management L.P.’s holdings in Ally Financial were worth $4,977,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in ALLY. Cetera Advisor Networks LLC raised its stake in Ally Financial by 116.5% during the 2nd quarter. Cetera Advisor Networks LLC now owns 34,482 shares of the financial services provider’s stock valued at $931,000 after acquiring an additional 18,557 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ally Financial by 3.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,392,089 shares of the financial services provider’s stock valued at $64,610,000 after acquiring an additional 73,290 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ally Financial by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,364,998 shares of the financial services provider’s stock valued at $198,930,000 after acquiring an additional 299,523 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Ally Financial during the 2nd quarter worth approximately $226,000. Finally, Spire Wealth Management grew its holdings in shares of Ally Financial by 25.0% in the 2nd quarter. Spire Wealth Management now owns 3,721 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 745 shares during the period. 86.04% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on ALLY shares. Stephens reiterated an “equal weight” rating and set a $32.00 target price on shares of Ally Financial in a report on Thursday, August 31st. JPMorgan Chase & Co. decreased their price objective on Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Morgan Stanley decreased their price objective on Ally Financial from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Thursday, October 19th. BMO Capital Markets decreased their price objective on Ally Financial from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 19th. Finally, The Goldman Sachs Group decreased their price objective on Ally Financial from $32.00 to $31.00 in a report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.80.
Ally Financial Stock Up 2.4 %
Shares of Ally Financial stock opened at $27.69 on Thursday. The business has a 50-day moving average of $25.97 and a 200-day moving average of $26.92. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $8.35 billion, a PE ratio of 7.57 and a beta of 1.38. Ally Financial Inc. has a 1-year low of $21.58 and a 1-year high of $35.78.
Ally Financial (NYSE:ALLY – Get Free Report) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.06 billion. Ally Financial had a return on equity of 11.36% and a net margin of 14.64%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. As a group, equities analysts forecast that Ally Financial Inc. will post 3.2 EPS for the current fiscal year.
Ally Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 4.33%. Ally Financial’s dividend payout ratio (DPR) is 32.79%.
About Ally Financial
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 Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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