AustralianSuper Pty Ltd Sells 9,426 Shares of Ally Financial Inc. (NYSE:ALLY)

AustralianSuper Pty Ltd decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,854,629 shares of the financial services provider’s stock after selling 9,426 shares during the period. AustralianSuper Pty Ltd’s holdings in Ally Financial were worth $101,596,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Ally Financial in the first quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial in the second quarter worth about $41,000. Hobbs Group Advisors LLC purchased a new position in Ally Financial during the 2nd quarter valued at about $52,000. Finally, First Community Trust NA bought a new stake in shares of Ally Financial in the 2nd quarter valued at about $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALLY. Evercore ISI dropped their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Keefe, Bruyette & Woods reduced their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Wells Fargo & Company cut their target price on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $46.00 to $40.00 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial presently has an average rating of “Hold” and an average target price of $40.38.

Ally Financial Stock Performance

Shares of ALLY traded down $0.93 during trading hours on Thursday, reaching $35.17. 402,929 shares of the company traded hands, compared to its average volume of 3,495,136. The stock has a market capitalization of $10.69 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average price of $36.55 and a 200-day moving average price of $38.93. Ally Financial Inc. has a 12-month low of $23.52 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Ally Financial Inc. will post 2.87 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, November 1st. Ally Financial’s payout ratio is 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.