Ally Financial Inc. (NYSE:ALLY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 32.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,077 shares of the financial services provider's stock after selling 46,476 shares during the period. State of New Jersey Common Pension Fund D's holdings in Ally Financial were worth $3,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp increased its position in Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider's stock valued at $923,000 after purchasing an additional 278 shares during the period. Trust Co. of Toledo NA OH lifted its position in Ally Financial by 1.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider's stock worth $715,000 after acquiring an additional 287 shares during the period. WBI Investments LLC increased its holdings in shares of Ally Financial by 2.2% in the fourth quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 316 shares during the period. Signet Financial Management LLC raised its stake in shares of Ally Financial by 4.8% in the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider's stock worth $295,000 after purchasing an additional 330 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Ally Financial by 10.2% in the second quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider's stock valued at $175,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALLY. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ally Financial from $51.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, July 1st. Barclays dropped their price objective on shares of 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. BTIG Research cut Ally Financial from a "buy" rating to a "neutral" rating in a report on Monday. Bank of America reduced 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. Finally, JPMorgan Chase & Co. raised Ally Financial from an "underweight" rating to a "neutral" rating and upped their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $41.41.

Ally Financial Stock Up 0.9 %

Shares of Ally Financial stock traded up $0.29 during trading on Wednesday, hitting $34.05. 6,083,936 shares of the stock were exchanged, compared to its average volume of 3,466,308. 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 Inc. has a 12-month low of $22.54 and a 12-month high of $45.46. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The firm's 50-day moving average price is $40.86 and its 200 day moving average price is $39.66.

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

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial's dividend payout ratio (DPR) is presently 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.