Wedge Capital Management L L P NC Cuts Position in Ally Financial Inc. (NYSE:ALLY)

Wedge Capital Management L L P NC trimmed its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 7.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,939 shares of the financial services provider's stock after selling 106,369 shares during the period. Wedge Capital Management L L P NC owned approximately 0.42% of Ally Financial worth $46,415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wealthcare Advisory Partners LLC bought a new stake in shares of Ally Financial in the 4th quarter valued at approximately $461,000. Park Avenue Securities LLC bought a new stake in shares of Ally Financial in the 4th quarter valued at approximately $230,000. Assenagon Asset Management S.A. raised its holdings in shares of Ally Financial by 233.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider's stock worth $87,509,000 after buying an additional 1,701,264 shares during the period. Oak Thistle LLC purchased a new stake in shares of Ally Financial in the fourth quarter worth approximately $1,112,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Ally Financial in the fourth quarter worth approximately $297,000. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Performance

ALLY traded down $0.41 on Friday, reaching $36.96. 5,100,197 shares of the stock were exchanged, compared to its average volume of 2,202,021. The company's 50-day moving average price is $36.85 and its 200 day moving average price is $37.97. Ally Financial Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $11.26 billion, a PE ratio of 14.79, a PEG ratio of 0.33 and a beta of 1.44.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm's revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Ally Financial Inc. will post 2.95 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.25%. Ally Financial's payout ratio is currently 48.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALLY shares. StockNews.com upgraded Ally Financial from a "hold" rating to a "buy" rating in a report on Wednesday. Evercore ISI reduced their price target on Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a report on Monday, October 7th. Raymond James upgraded Ally Financial from an "underperform" rating to a "market perform" rating in a report on Monday, October 21st. Royal Bank of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. Finally, TD Cowen reduced their price objective on Ally Financial from $45.00 to $37.00 and set a "hold" rating on the stock in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.53.

About Ally Financial

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.