Sumitomo Mitsui Asset Management Company LTD lowered its stake in Ally Financial Inc (NYSE:ALLY) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,998 shares of the financial services provider’s stock after selling 15,622 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Ally Financial were worth $2,803,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of Ally Financial by 32.7% in the third quarter. Bank of Montreal Can now owns 191,949 shares of the financial services provider’s stock valued at $5,077,000 after buying an additional 47,333 shares during the period. DNB Asset Management AS increased its stake in shares of Ally Financial by 5.4% in the third quarter. DNB Asset Management AS now owns 217,900 shares of the financial services provider’s stock valued at $5,763,000 after buying an additional 11,100 shares during the period. NEXT Financial Group Inc acquired a new position in shares of Ally Financial in the third quarter valued at approximately $153,000. Northern Trust Corp increased its stake in shares of Ally Financial by 1.9% in the second quarter. Northern Trust Corp now owns 3,578,476 shares of the financial services provider’s stock valued at $94,008,000 after buying an additional 66,832 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Ally Financial by 282.0% in the second quarter. Schroder Investment Management Group now owns 56,037 shares of the financial services provider’s stock valued at $1,441,000 after buying an additional 41,366 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on ALLY. TheStreet raised Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, July 19th. Zacks Investment Research downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Oppenheimer set a $35.00 price objective on Ally Financial and gave the company a “buy” rating in a research note on Thursday, October 4th. Janney Montgomery Scott raised Ally Financial from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, June 29th. Finally, Stephens reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Ally Financial in a research note on Friday, July 27th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.89.
NYSE:ALLY opened at $25.94 on Friday. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.65 and a beta of 1.34. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.21 and a quick ratio of 1.21. Ally Financial Inc has a fifty-two week low of $24.50 and a fifty-two week high of $31.29.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ally Financial had a net margin of 15.62% and a return on equity of 9.45%. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, sell-side analysts expect that Ally Financial Inc will post 3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, October 31st. Ally Financial’s dividend payout ratio is presently 25.10%.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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