Prana Capital Management LP Lowers Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Prana Capital Management LP decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 55.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,512 shares of the financial services provider’s stock after selling 388,960 shares during the period. Prana Capital Management LP owned about 0.10% of Ally Financial worth $11,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in Ally Financial by 68.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 28,114 shares in the last quarter. OLD National Bancorp IN lifted its position in Ally Financial by 3.8% during the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after buying an additional 32,478 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock worth $1,796,000 after acquiring an additional 18,671 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Ally Financial during the 3rd quarter valued at about $1,338,000. Finally, SG Americas Securities LLC increased its position in Ally Financial by 33.6% during the second quarter. SG Americas Securities LLC now owns 164,786 shares of the financial services provider’s stock worth $6,537,000 after purchasing an additional 41,413 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALLY. Bank of America decreased their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. TD Cowen decreased their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Wells Fargo & Company lowered their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st. Finally, Barclays cut their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.80.

Ally Financial Stock Down 0.2 %

Shares of NYSE ALLY opened at $39.13 on Wednesday. The business has a 50-day moving average of $36.10 and a two-hundred day moving average of $38.61. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.47 and a beta of 1.42. Ally Financial Inc. has a 1 year low of $29.05 and a 1 year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92.

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

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.30 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. Ally Financial’s dividend payout ratio (DPR) is presently 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.