Zurcher Kantonalbank Zurich Cantonalbank Buys 9,383 Shares of Ally Financial Inc. (NYSE:ALLY)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ally Financial Inc. (NYSE:ALLY) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,877 shares of the financial services provider’s stock after acquiring an additional 9,383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ally Financial were worth $5,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after acquiring an additional 987,489 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ally Financial by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock worth $146,670,000 after purchasing an additional 31,491 shares during the period. Jennison Associates LLC lifted its position in shares of Ally Financial by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock worth $59,535,000 after purchasing an additional 75,080 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ally Financial by 7.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,615,663 shares of the financial services provider’s stock valued at $57,501,000 after purchasing an additional 109,677 shares in the last quarter. Finally, Employees Retirement System of Texas increased its holdings in Ally Financial by 11.7% during the second quarter. Employees Retirement System of Texas now owns 1,489,200 shares of the financial services provider’s stock valued at $59,077,000 after buying an additional 156,200 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLY has been the subject of several analyst reports. Wells Fargo & Company decreased their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. Barclays lowered their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Evercore ISI cut their price target on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Morgan Stanley decreased their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods dropped their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.80.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $39.21 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.47 and a beta of 1.40. The stock’s 50 day moving average price is $36.00 and its 200 day moving average price is $38.61. Ally Financial Inc. has a 12 month low of $29.05 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, November 1st. Ally Financial’s payout ratio is 48.00%.

Ally Financial Profile

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.