Donald Smith & CO. Inc. cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,515,567 shares of the financial services provider's stock after selling 38,104 shares during the period. Ally Financial comprises about 2.1% of Donald Smith & CO. Inc.'s portfolio, making the stock its 20th biggest position. Donald Smith & CO. Inc. owned about 0.83% of Ally Financial worth $89,529,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in ALLY. Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Ally Financial during the first quarter worth $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ally Financial in the second quarter valued at $41,000. Allworth Financial LP boosted its holdings in 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 purchasing an additional 421 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Ally Financial during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 88.76% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised shares of Ally Financial from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $46.00 to $40.00 in a report on Monday, October 7th. Raymond James upgraded shares of Ally Financial from an "underperform" rating to a "market perform" rating in a report on Monday, October 21st. Barclays dropped their price objective on shares of Ally Financial from $44.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 12th. Finally, Evercore ISI decreased their price objective on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $40.38.
Get Our Latest Stock Report on Ally Financial
Ally Financial Stock Performance
ALLY traded up $1.02 during trading on Wednesday, hitting $36.12. 3,331,291 shares of the stock were exchanged, compared to its average volume of 3,509,612. The firm has a market capitalization of $10.98 billion, a P/E ratio of 14.71, a PEG ratio of 0.42 and a beta of 1.39. Ally Financial Inc. has a 1-year low of $23.52 and a 1-year high of $45.46. The stock has a fifty day moving average price of $36.67 and a two-hundred day moving average price of $38.95. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.
Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. Ally Financial's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Ally Financial Inc. will post 2.87 earnings per share for the current year.
Ally Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, November 1st. Ally Financial's dividend payout ratio is currently 48.98%.
Ally Financial 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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