Amalgamated Bank cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,317 shares of the financial services provider's stock after selling 2,135 shares during the period. Amalgamated Bank's holdings in Ally Financial were worth $1,492,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ALLY. Salem Investment Counselors Inc. grew its position in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider's stock worth $28,000 after acquiring an additional 345 shares during the last quarter. Versant Capital Management Inc grew its position in Ally Financial by 1,510.6% during the 1st quarter. Versant Capital Management Inc now owns 1,063 shares of the financial services provider's stock worth $46,000 after acquiring an additional 997 shares during the last quarter. Institutional & Family Asset Management LLC bought a new stake in Ally Financial during the 1st quarter worth approximately $51,000. DeDora Capital Inc. bought a new position in Ally Financial in the 1st quarter valued at $64,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Ally Financial in the 1st quarter valued at $66,000. 91.57% of the stock is currently owned by institutional investors.
Get Ally Financial alerts:Wall Street Analysts Forecast Growth
ALLY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Ally Financial from $70.00 to $55.00 in a research report on Wednesday, July 20th. Keefe, Bruyette & Woods cut their price target on Ally Financial from $63.00 to $47.00 in a research note on Monday, July 11th. Raymond James cut their price target on Ally Financial from $50.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, July 7th. Evercore ISI downgraded Ally Financial from an "outperform" rating to an "in-line" rating and set a $36.00 price target on the stock. in a research note on Wednesday, July 20th. Finally, Credit Suisse Group cut their price target on Ally Financial to $55.00 in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $48.64.
Ally Financial Trading Down 4.5 %
NYSE:ALLY opened at $28.51 on Tuesday. Ally Financial Inc. has a twelve month low of $28.40 and a twelve month high of $56.28. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average price of $33.36 and a two-hundred day moving average price of $37.55. The company has a market cap of $8.80 billion, a P/E ratio of 4.11, a price-to-earnings-growth ratio of 0.13 and a beta of 1.31.Ally Financial (NYSE:ALLY – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.14). Ally Financial had a return on equity of 20.99% and a net margin of 29.79%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company earned $2.33 EPS. As a group, analysts expect that Ally Financial Inc. will post 7.16 EPS for the current fiscal year.
Ally Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, July 29th. Ally Financial's payout ratio is presently 17.29%.
About Ally Financial
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Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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