Wittenberg Investment Management Inc. Decreases Position in Ally Financial Inc. (NYSE:ALLY)

Wittenberg Investment Management Inc. reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,050 shares of the financial services provider’s stock after selling 3,350 shares during the quarter. Ally Financial accounts for approximately 0.9% of Wittenberg Investment Management Inc.’s holdings, making the stock its 27th largest holding. Wittenberg Investment Management Inc.’s holdings in Ally Financial were worth $2,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLY. Kinneret Advisory LLC raised its stake in shares of Ally Financial by 2.3% during the first quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 262 shares during the period. Blair William & Co. IL grew its stake in shares of Ally Financial by 2.6% during the first quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider’s stock valued at $456,000 after acquiring an additional 264 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Ally Financial by 115.0% during the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 345 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Ally Financial by 8.2% in the first quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 354 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Ally Financial by 4.9% in the first quarter. Captrust Financial Advisors now owns 8,020 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 371 shares during the last quarter. 86.04% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Shares of ALLY stock traded down $0.22 during trading hours on Tuesday, reaching $27.40. The stock had a trading volume of 132,281 shares, compared to its average volume of 5,322,428. The firm has a market capitalization of $8.26 billion, a PE ratio of 7.55 and a beta of 1.38. The firm has a 50-day simple moving average of $25.95 and a 200-day simple moving average of $26.98. Ally Financial Inc. has a twelve month low of $21.58 and a twelve month high of $35.78. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.06 billion. Ally Financial had a net margin of 14.64% and a return on equity of 11.36%. Ally Financial’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. As a group, equities analysts forecast that Ally Financial Inc. will post 3.2 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, October 31st. Ally Financial’s payout ratio is currently 32.79%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALLY. Bank of America cut their target price on Ally Financial from $30.00 to $28.00 in a research report on Tuesday, October 10th. The Goldman Sachs Group decreased their price objective on shares of Ally Financial from $32.00 to $31.00 in a report on Monday, October 2nd. Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 24th. Royal Bank of Canada decreased their price target on Ally Financial from $35.00 to $33.00 in a research note on Thursday, October 19th. Finally, Morgan Stanley cut their price objective on Ally Financial from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ally Financial currently has an average rating of “Hold” and an average target price of $29.80.

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.