KBC Group NV cut its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 63.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,504 shares of the financial services provider's stock after selling 437,392 shares during the period. KBC Group NV owned 0.08% of Ally Financial worth $8,880,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. 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. Transcendent Capital Group LLC bought a new position in Ally Financial during the first quarter worth $28,000. 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 worth $34,000 after buying an additional 577 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Ally Financial in the 2nd quarter worth $41,000. Finally, Allworth Financial LP lifted its stake in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider's stock valued at $51,000 after buying an additional 421 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.
Ally Financial Stock Performance
Shares of NYSE ALLY remained flat at $36.22 during trading on Friday. The stock had a trading volume of 2,166,851 shares, compared to its average volume of 3,387,985. Ally Financial Inc. has a 1 year low of $26.50 and a 1 year high of $45.46. 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 market capitalization of $11.04 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a 50 day simple moving average of $35.14 and a 200 day simple moving average of $38.75.
Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. As a group, analysts predict that Ally Financial Inc. will post 3 EPS for the current year.
Ally Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.31%. Ally Financial's dividend payout ratio is presently 48.00%.
Analyst Ratings Changes
ALLY has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Ally Financial from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Monday, September 16th. 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 report on Monday, October 7th. Bank of America lowered their target price on shares of Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. StockNews.com raised Ally Financial from a "sell" rating to a "hold" rating in a report on Saturday, October 19th. Finally, TD Cowen dropped their price target on Ally Financial from $45.00 to $37.00 and set a "hold" rating for the company in a research note on Monday, September 23rd. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $40.69.
Get Our Latest Stock Report on ALLY
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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