Ally Financial Inc. (NYSE:ALLY) Shares Sold by Oldfield Partners LLP

Oldfield Partners LLP reduced its position in Ally Financial Inc. (NYSE:ALLY) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,500 shares of the financial services provider’s stock after selling 2,800 shares during the period. Ally Financial makes up approximately 0.2% of Oldfield Partners LLP’s holdings, making the stock its 21st largest holding. Oldfield Partners LLP’s holdings in Ally Financial were worth $1,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ALLY. BNP Paribas Financial Markets lifted its stake in shares of Ally Financial by 133.6% in the 4th quarter. BNP Paribas Financial Markets now owns 95,397 shares of the financial services provider’s stock valued at $3,331,000 after purchasing an additional 54,562 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Ally Financial by 10.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,835 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 1,749 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Ally Financial by 3.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 35,909 shares of the financial services provider’s stock worth $1,254,000 after acquiring an additional 1,126 shares in the last quarter. Norges Bank acquired a new position in Ally Financial during the 4th quarter worth approximately $62,869,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ally Financial during the 4th quarter worth approximately $459,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ALLY. Barclays reduced their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised Ally Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price target on Ally Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Citigroup started coverage on Ally Financial in a research report on Monday, June 24th. They set a “buy” rating and a $50.00 price target on the stock. Finally, BTIG Research started coverage on Ally Financial in a report on Friday, June 7th. They set a “buy” rating and a $51.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.65.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $32.97 on Monday. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The business has a 50 day simple moving average of $41.30 and a 200-day simple moving average of $39.75.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.96 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts expect that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.64%. Ally Financial’s dividend payout ratio is currently 48.98%.

About Ally Financial

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.