Private Management Group Inc. Trims Holdings in Ally Financial Inc. (NYSE:ALLY)

Private Management Group Inc. lowered its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 699,847 shares of the financial services provider's stock after selling 45,767 shares during the quarter. Private Management Group Inc. owned approximately 0.23% of Ally Financial worth $27,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 in the last quarter. Transcendent Capital Group LLC bought a new stake in Ally Financial in the first quarter valued at $28,000. Northwest Financial Advisors acquired a new stake in shares of Ally Financial during the 4th quarter worth about $31,000. Rise Advisors LLC acquired a new position in Ally Financial in the first quarter worth $32,000. Finally, Quarry LP grew its stake in shares of Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

NYSE ALLY traded up $0.10 during trading on Monday, hitting $39.66. 3,676,309 shares of the company's stock were exchanged, compared to its average volume of 3,230,172. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The stock's 50 day moving average price is $41.88 and its two-hundred day moving average price is $39.82. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market cap of $12.06 billion, a PE ratio of 16.15, a P/E/G ratio of 0.38 and a beta of 1.41.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm's revenue was down 3.8% on a year-over-year basis. Research analysts expect that Ally Financial Inc. will post 3.51 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.03%. Ally Financial's dividend payout ratio is currently 48.98%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLY. Royal Bank of Canada increased their price target on shares of Ally Financial from $46.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upgraded Ally Financial from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $39.00 to $45.00 in a report on Monday, July 8th. Citigroup initiated coverage on Ally Financial in a research report on Monday, June 24th. They issued a "buy" rating and a $50.00 target price on the stock. Morgan Stanley upped their price target on Ally Financial from $47.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Ally Financial from $51.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $43.41.

Ally Financial Company 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.