Ally Financial Inc. (NYSE:ALLY) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 62.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 74,700 shares of the financial services provider’s stock after selling 122,076 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ally Financial were worth $2,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in Ally Financial by 34.2% during the 3rd quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock valued at $83,309,000 after purchasing an additional 795,754 shares during the period. Private Management Group Inc. boosted its position in shares of Ally Financial by 9.4% during the third quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock worth $21,855,000 after buying an additional 70,615 shares during the period. ING Groep NV bought a new position in Ally Financial in the 3rd quarter worth approximately $4,336,000. Sherbrooke Park Advisers LLC acquired a new stake in Ally Financial in the 3rd quarter valued at approximately $724,000. Finally, Nordea Investment Management AB raised its stake in Ally Financial by 8.1% during the 4th quarter. Nordea Investment Management AB now owns 23,442 shares of the financial services provider’s stock valued at $816,000 after acquiring an additional 1,755 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALLY. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a report on Monday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. TheStreet raised Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley upgraded Ally Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $37.00 to $47.00 in a report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average target price of $38.47.

Ally Financial Trading Up 0.4 %

Shares of ALLY opened at $39.30 on Friday. The business’s 50-day moving average price is $38.04 and its 200 day moving average price is $33.42. The stock has a market capitalization of $11.95 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.58 and a beta of 1.40. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $41.56. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $0.82 EPS. Ally Financial’s revenue was down 5.4% on a year-over-year basis. Analysts expect that Ally Financial Inc. will post 2.95 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. Ally Financial’s payout ratio is presently 48.98%.

Ally Financial Profile

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.