American International Group Inc. Reduces Holdings in Ally Financial Inc. (NYSE:ALLY)

American International Group Inc. decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 2.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 359,337 shares of the financial services provider’s stock after selling 7,346 shares during the period. American International Group Inc. owned 0.12% of Ally Financial worth $14,585,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALLY. American Century Companies Inc. lifted its holdings in Ally Financial by 24.0% during the 3rd quarter. American Century Companies Inc. now owns 306,874 shares of the financial services provider’s stock worth $8,187,000 after purchasing an additional 59,380 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Ally Financial by 8.1% during the 4th quarter. Nordea Investment Management AB now owns 23,442 shares of the financial services provider’s stock worth $816,000 after purchasing an additional 1,755 shares in the last quarter. SG Americas Securities LLC increased its stake in Ally Financial by 259.0% in the 4th quarter. SG Americas Securities LLC now owns 155,027 shares of the financial services provider’s stock worth $5,414,000 after acquiring an additional 111,849 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in Ally Financial in the 4th quarter worth about $417,000. Finally, Planned Solutions Inc. bought a new position in Ally Financial in the 4th quarter worth about $83,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their target price on Ally Financial from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley upped their target price on Ally Financial from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. BTIG Research assumed coverage on Ally Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $51.00 target price on the stock. Compass Point upped their target price on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays upped their target price on Ally Financial from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ally Financial has a consensus rating of “Hold” and a consensus target price of $42.78.

Ally Financial Trading Up 3.6 %

ALLY stock traded up $1.54 during trading on Thursday, hitting $43.78. 1,123,235 shares of the company traded hands, compared to its average volume of 3,368,004. The firm has a market capitalization of $13.31 billion, a PE ratio of 17.24, a P/E/G ratio of 0.42 and a beta of 1.41. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $44.50. The company has a 50-day moving average of $40.10 and a 200-day moving average of $38.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.33. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Analysts predict that Ally Financial Inc. will post 3.42 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. Ally Financial’s dividend payout ratio is currently 48.98%.

Ally Financial Company 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.