Citigroup Inc. Purchases 44,314 Shares of Ally Financial Inc. (NYSE:ALLY)

Citigroup Inc. grew its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,602 shares of the financial services provider's stock after purchasing an additional 44,314 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Ally Financial worth $8,634,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC grew its position in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 577 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial in the second quarter worth $41,000. Hobbs Group Advisors LLC bought a new stake in Ally Financial during the 2nd quarter valued at $52,000. Finally, First Community Trust NA purchased a new stake in Ally Financial during the 2nd quarter valued at $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of ALLY traded up $0.49 during mid-day trading on Friday, hitting $39.98. 1,866,550 shares of the company traded hands, compared to its average volume of 3,470,041. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 0.47 and a beta of 1.40. 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 stock has a 50-day moving average price of $35.90 and a two-hundred day moving average price of $38.65. Ally Financial Inc. has a 1 year low of $28.99 and a 1 year high of $45.46.

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

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.00%. Ally Financial's payout ratio is 48.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on ALLY. TD Cowen decreased their price objective on shares of Ally Financial from $45.00 to $37.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. BTIG Research downgraded Ally Financial from a "buy" rating to a "neutral" rating in a report on Monday, September 16th. Citigroup increased their price objective on Ally Financial from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Evercore ISI lowered their target price 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. Finally, Morgan Stanley reduced their price target on Ally Financial from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.69.

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.