Charles Schwab Investment Management Inc. Sells 31,583 Shares of Ally Financial Inc. (NYSE:ALLY)

Charles Schwab Investment Management Inc. reduced its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,330,175 shares of the financial services provider's stock after selling 31,583 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.76% of Ally Financial worth $82,931,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 526 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Ally Financial in the second quarter worth $41,000. Allworth Financial LP boosted its position in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 421 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Ally Financial in the second quarter valued at about $52,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ALLY shares. Evercore ISI cut their price target on Ally Financial from $47.00 to $38.00 and set an "in-line" rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. raised shares of Ally Financial from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $46.00 to $40.00 in a research report on Monday, October 7th. Barclays dropped their price target on shares of Ally Financial from $44.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 12th. StockNews.com raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Saturday, October 19th. Finally, BTIG Research downgraded shares of Ally Financial from a "buy" rating to a "neutral" rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $40.69.

Ally Financial Stock Performance

ALLY stock traded up $0.07 during trading on Thursday, reaching $39.49. 2,939,585 shares of the stock were exchanged, compared to its average volume of 3,477,013. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $12.03 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 0.46 and a beta of 1.40. The stock has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $38.65.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. Ally Financial's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. Ally Financial's dividend payout ratio (DPR) is currently 48.00%.

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.