Donald Smith & CO. Inc. Reduces Stake in Ally Financial Inc. (NYSE:ALLY)

Donald Smith & CO. Inc. cut its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,553,671 shares of the financial services provider's stock after selling 220,816 shares during the quarter. Ally Financial accounts for about 2.6% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 15th largest holding. Donald Smith & CO. Inc. owned approximately 0.84% of Ally Financial worth $101,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock worth $25,000 after buying an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new stake in Ally Financial in the 1st quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in Ally Financial in the 1st quarter worth approximately $32,000. Quarry LP lifted its holdings in Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider's stock worth $33,000 after buying an additional 598 shares during the period. Finally, SYSTM Wealth Solutions LLC lifted its holdings in Ally Financial by 571.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider's stock worth $38,000 after buying an additional 789 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALLY. Citigroup began coverage on Ally Financial in a report on Monday, June 24th. They issued a "buy" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. raised Ally Financial from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Wells Fargo & Company increased their target price on Ally Financial from $33.00 to $37.00 and gave the stock an "underweight" rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods decreased their target price on Ally Financial from $50.00 to $44.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Bank of America decreased their target price on Ally Financial from $46.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.41.

Ally Financial Stock Up 0.2 %

ALLY stock traded up $0.08 on Monday, reaching $33.05. 5,513,855 shares of the company traded hands, compared to its average volume of 3,441,434. The company has a market cap of $10.05 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The firm has a fifty day simple moving average of $41.30 and a 200-day simple moving average of $39.75. Ally Financial Inc. has a one year low of $22.54 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

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

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial's payout ratio is 48.98%.

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.