Geode Capital Management LLC trimmed its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,711,189 shares of the financial services provider's stock after selling 149,095 shares during the quarter. Geode Capital Management LLC owned approximately 1.55% of Ally Financial worth $167,301,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock valued at $25,000 after buying an additional 526 shares during the last quarter. Venturi Wealth Management LLC raised its stake in 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial in the 2nd quarter valued at approximately $41,000. Hobbs Group Advisors LLC acquired a new position in shares of Ally Financial in the second quarter valued at approximately $52,000. Finally, Allworth Financial LP raised its stake in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider's stock worth $51,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ALLY. StockNews.com raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Saturday, October 19th. Wolfe Research cut shares of Ally Financial from an "outperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Citigroup lifted their price objective on Ally Financial from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Barclays cut their target price on Ally Financial from $44.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, September 12th. Finally, TD Cowen decreased their price target on Ally Financial from $45.00 to $37.00 and set a "hold" rating on the stock in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.73.
Read Our Latest Stock Report on ALLY
Ally Financial Trading Down 0.2 %
Shares of NYSE ALLY traded down $0.09 during trading on Monday, hitting $37.59. 2,090,090 shares of the company traded hands, compared to its average volume of 3,455,441. The firm has a market capitalization of $11.45 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.46 and a beta of 1.42. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $36.65 and a 200-day moving average price of $38.58. Ally Financial Inc. has a 1 year low of $31.77 and a 1 year high of $45.46.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict that Ally Financial Inc. will post 3 EPS for the current year.
Ally Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.30 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.19%. Ally Financial's payout ratio is 48.00%.
Ally Financial Company Profile
(
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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