Principal Financial Group Inc. cut its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,951 shares of the financial services provider's stock after selling 275,639 shares during the period. Principal Financial Group Inc. owned 0.21% of Ally Financial worth $22,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of ALLY. Allspring Global Investments Holdings LLC raised its position in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock worth $25,000 after purchasing an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Ally Financial in the first quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Ally Financial during the 2nd quarter worth approximately $41,000. Hobbs Group Advisors LLC purchased a new position in Ally Financial during the 2nd quarter valued at $52,000. Finally, First Community Trust NA bought a new position in Ally Financial in the 2nd quarter valued at $53,000. 88.76% of the stock is owned by institutional investors.
Ally Financial Stock Down 1.4 %
ALLY traded down $0.52 during trading on Thursday, hitting $36.06. The stock had a trading volume of 3,276,041 shares, compared to its average volume of 3,481,681. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46. The stock has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $38.79. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $10.99 billion, a PE ratio of 14.35, a PEG ratio of 0.44 and a beta of 1.40.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, research analysts predict that Ally Financial Inc. will post 3 earnings per share for the current year.
Ally Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial's dividend payout ratio (DPR) is presently 48.00%.
Analyst Upgrades and Downgrades
ALLY has been the subject of a number of recent analyst reports. BTIG Research lowered shares of Ally Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. TD Cowen lowered their price objective on shares of Ally Financial from $45.00 to $37.00 and set a "hold" rating for the company in a research report on Monday, September 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Ally Financial from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. StockNews.com upgraded Ally Financial from a "sell" rating to a "hold" rating in a report on Saturday, October 19th. Finally, Wells Fargo & Company dropped their price objective on Ally Financial from $37.00 to $32.00 and set an "underweight" rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.38.
View Our Latest Stock Report on Ally Financial
About Ally Financial
(
Free Report)
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.
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