Oppenheimer Asset Management Inc. Sells 2,413 Shares of Ally Financial Inc. (NYSE:ALLY)

Oppenheimer Asset Management Inc. trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,904 shares of the financial services provider’s stock after selling 2,413 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $3,805,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in shares of Ally Financial by 50.1% in the 3rd quarter. Victory Capital Management Inc. now owns 594,114 shares of the financial services provider’s stock valued at $21,145,000 after purchasing an additional 198,282 shares during the last quarter. Barnett & Company Inc. lifted its stake in shares of Ally Financial by 18.5% in the 3rd quarter. Barnett & Company Inc. now owns 60,920 shares of the financial services provider’s stock valued at $2,168,000 after purchasing an additional 9,500 shares during the last quarter. Aigen Investment Management LP lifted its stake in shares of Ally Financial by 124.8% in the 3rd quarter. Aigen Investment Management LP now owns 32,268 shares of the financial services provider’s stock valued at $1,148,000 after purchasing an additional 17,911 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Ally Financial by 65,375.0% in the 3rd quarter. Rakuten Securities Inc. now owns 2,619 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 2,615 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Ally Financial by 9.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 632,171 shares of the financial services provider’s stock valued at $22,499,000 after purchasing an additional 53,727 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ALLY shares. Citigroup raised their price target on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company decreased their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Bank of America decreased their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.69.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $36.22 on Friday. Ally Financial Inc. has a 12-month low of $26.50 and a 12-month high of $45.46. The business’s fifty day simple moving average is $35.20 and its 200-day simple moving average is $38.77. The company has a market capitalization of $11.04 billion, a PE ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

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. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.83 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued 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 3.31%. Ally Financial’s dividend payout ratio is presently 48.00%.

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.