Raymond James & Associates Has $4.34 Million Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Raymond James & Associates reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 50.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,062 shares of the financial services provider's stock after selling 122,639 shares during the period. Raymond James & Associates' holdings in Ally Financial were worth $4,344,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock worth $25,000 after purchasing an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new stake in Ally Financial in the first quarter worth $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial in the second quarter worth $41,000. Hobbs Group Advisors LLC purchased a new stake in Ally Financial in the second quarter worth $52,000. Finally, First Community Trust NA purchased a new position in shares of Ally Financial during the second quarter valued at $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Down 0.5 %

NYSE:ALLY traded down $0.18 on Friday, hitting $34.57. 2,380,522 shares of the company's stock traded hands, compared to its average volume of 3,889,240. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial Inc. has a 1 year low of $24.72 and a 1 year high of $45.46. The firm has a 50-day moving average price of $36.24 and a 200-day moving average price of $38.93. The company has a market cap of $10.51 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.83 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts anticipate that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. Ally Financial's dividend payout ratio (DPR) is presently 48.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on ALLY. BTIG Research lowered Ally Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. Keefe, Bruyette & Woods cut their target price on Ally Financial from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Barclays cut their target price on Ally Financial from $44.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 price target on shares of Ally Financial in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.38.

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.