Harbor Investment Advisory LLC cut its stake in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,190 shares of the financial services provider's stock after selling 550 shares during the period. Harbor Investment Advisory LLC's holdings in Ally Financial were worth $73,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ALLY. Rockefeller Capital Management L.P. lifted its holdings in Ally Financial by 16.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 37,732 shares of the financial services provider's stock worth $1,796,000 after acquiring an additional 5,239 shares in the last quarter. GSA Capital Partners LLP bought a new position in Ally Financial during the fourth quarter worth about $232,000. Blair William & Co. IL lifted its holdings in shares of Ally Financial by 2.1% in the fourth quarter. Blair William & Co. IL now owns 10,233 shares of the financial services provider's stock valued at $487,000 after purchasing an additional 206 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of Ally Financial by 13.3% in the fourth quarter. Credit Suisse AG now owns 1,018,892 shares of the financial services provider's stock valued at $48,510,000 after purchasing an additional 119,975 shares in the last quarter. Finally, Freestone Capital Holdings LLC lifted its holdings in shares of Ally Financial by 55.6% in the fourth quarter. Freestone Capital Holdings LLC now owns 7,482 shares of the financial services provider's stock valued at $356,000 after purchasing an additional 2,672 shares in the last quarter. 91.57% of the stock is owned by institutional investors and hedge funds.
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Shares of NYSE ALLY opened at $28.10 on Wednesday. The business's 50 day moving average price is $33.25 and its two-hundred day moving average price is $37.49. The company has a market cap of $8.67 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 0.13 and a beta of 1.31. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. Ally Financial Inc. has a twelve month low of $28.00 and a twelve month high of $56.28.
Ally Financial (NYSE:ALLY – Get Rating) last announced 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). The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.19 billion. Ally Financial had a return on equity of 20.99% and a net margin of 29.79%. During the same period last year, the firm earned $2.33 EPS. On average, analysts predict that Ally Financial Inc. will post 7.16 EPS for the current year.Ally Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, July 29th. Ally Financial's dividend payout ratio (DPR) is presently 17.29%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on ALLY shares. Compass Point cut their price target on Ally Financial to $54.00 in a report on Monday, July 4th. Morgan Stanley cut their price target on Ally Financial from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. Jefferies Financial Group restated a "buy" rating and issued a $50.00 price target on shares of Ally Financial in a report on Wednesday, July 13th. Keefe, Bruyette & Woods cut their price target on Ally Financial from $63.00 to $47.00 in a report on Monday, July 11th. Finally, Piper Sandler lowered their target price on Ally Financial from $34.00 to $31.00 and set an "underweight" rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Ally Financial has an average rating of "Hold" and a consensus target price of $48.64.
Ally Financial Profile
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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.
Further Reading
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