Kestra Advisory Services LLC decreased its holdings in Ally Financial Inc. (NYSE:ALLY – Get Rating) by 26.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,839 shares of the financial services provider's stock after selling 10,446 shares during the quarter. Kestra Advisory Services LLC's holdings in Ally Financial were worth $803,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ALLY. State Street Corp lifted its position in Ally Financial by 3.3% during the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider's stock worth $380,424,000 after acquiring an additional 281,795 shares during the period. Royal Bank of Canada lifted its position in Ally Financial by 5.6% during the 1st quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider's stock worth $262,433,000 after acquiring an additional 320,049 shares during the period. Thrivent Financial for Lutherans lifted its position in Ally Financial by 25.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,924,412 shares of the financial services provider's stock worth $131,507,000 after acquiring an additional 789,658 shares during the period. Magnolia Group LLC lifted its position in Ally Financial by 9.6% during the 3rd quarter. Magnolia Group LLC now owns 3,115,000 shares of the financial services provider's stock worth $86,690,000 after acquiring an additional 271,776 shares during the period. Finally, Glendon Capital Management LP lifted its position in Ally Financial by 1.5% during the 1st quarter. Glendon Capital Management LP now owns 2,485,472 shares of the financial services provider's stock worth $108,068,000 after acquiring an additional 37,083 shares during the period. Institutional investors and hedge funds own 90.35% of the company's stock.
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Ally Financial Price Performance
NYSE:ALLY opened at $32.28 on Friday. Ally Financial Inc. has a 12 month low of $22.34 and a 12 month high of $51.05. The stock has a 50 day moving average of $26.13 and a two-hundred day moving average of $29.43. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.64. The firm has a market cap of $9.64 billion, a P/E ratio of 6.49 and a beta of 1.27.
Ally Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $1.20 annualized dividend and a yield of 3.72%. Ally Financial's dividend payout ratio (DPR) is currently 24.14%.
Analysts Set New Price Targets
A number of analysts have commented on ALLY shares. S&P Equity Research set a $29.50 price target on Ally Financial in a research report on Monday, November 14th. Bank of America cut Ally Financial from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $35.00 to $26.00 in a report on Thursday, January 5th. Morgan Stanley boosted their price objective on Ally Financial from $19.00 to $22.00 and gave the company an "underweight" rating in a report on Monday. Compass Point cut Ally Financial from a "buy" rating to a "neutral" rating in a report on Wednesday, October 26th. Finally, Wells Fargo & Company decreased their price objective on Ally Financial from $22.00 to $20.00 and set an "underweight" rating for the company in a report on Tuesday, January 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $35.08.
Ally Financial Company Profile
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Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
Further Reading
- Get a free copy of the StockNews.com research report on Ally Financial (ALLY)
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