The Manufacturers Life Insurance Company Sells 44,835 Shares of Ally Financial Inc. (NYSE:ALLY)

The Manufacturers Life Insurance Company lowered its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,039 shares of the financial services provider's stock after selling 44,835 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Ally Financial worth $7,724,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its holdings in Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider's stock worth $2,455,000 after purchasing an additional 28,114 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Ally Financial by 3.8% during the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider's stock valued at $34,933,000 after purchasing an additional 32,478 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Ally Financial in the 3rd quarter worth approximately $1,338,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider's stock worth $1,796,000 after purchasing an additional 18,671 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Ally Financial by 33.6% during the second quarter. SG Americas Securities LLC now owns 164,786 shares of the financial services provider's stock valued at $6,537,000 after purchasing an additional 41,413 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Down 1.2 %

Shares of NYSE:ALLY traded down $0.47 on Thursday, reaching $38.37. The company had a trading volume of 2,390,292 shares, compared to its average volume of 3,456,902. The stock has a market capitalization of $11.69 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.47 and a beta of 1.42. The stock has a 50-day moving average price of $36.26 and a 200 day moving average price of $38.61. Ally Financial Inc. has a twelve month low of $29.05 and a twelve month high of $45.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

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. On average, equities analysts expect that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. Ally Financial's payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALLY. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Ally Financial in a report on Monday, October 21st. Citigroup increased their price target on Ally Financial from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Bank of America cut their price objective on Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Keefe, Bruyette & Woods decreased their target price on shares of Ally Financial from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upgraded shares of Ally Financial from a "neutral" rating to an "overweight" rating and cut their price target for the company from $46.00 to $40.00 in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $40.80.

Ally Financial 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.