Wedge Capital Management L L P NC Cuts Stake in Ally Financial Inc. (NYSE:ALLY)

Wedge Capital Management L L P NC lessened its holdings in Ally Financial Inc. (NYSE:ALLY) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,288,939 shares of the financial services provider’s stock after selling 106,369 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ally Financial were worth $46,415,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ALLY. American Century Companies Inc. raised its holdings in Ally Financial by 12.8% in the second quarter. American Century Companies Inc. now owns 459,945 shares of the financial services provider’s stock valued at $18,246,000 after acquiring an additional 52,111 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ally Financial by 36.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 81,592 shares of the financial services provider’s stock valued at $3,237,000 after purchasing an additional 21,622 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Ally Financial by 5.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 110,467 shares of the financial services provider’s stock valued at $4,382,000 after purchasing an additional 5,613 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Ally Financial by 8.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,664 shares of the financial services provider’s stock worth $1,653,000 after purchasing an additional 3,096 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Ally Financial by 9.5% during the second quarter. Hsbc Holdings PLC now owns 815,383 shares of the financial services provider’s stock worth $32,369,000 after purchasing an additional 70,407 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Down 1.1 %

ALLY opened at $36.96 on Friday. The business has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $37.99. Ally Financial Inc. has a 52 week low of $31.77 and a 52 week high of $45.46. The company has a market cap of $11.26 billion, a PE ratio of 14.79, a P/E/G ratio of 0.33 and a beta of 1.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. As a group, research analysts anticipate that Ally Financial Inc. will post 2.95 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI cut their price target on 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. TD Cowen decreased their target price on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on shares of Ally Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Barclays increased their target price on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Hold” and an average target price of $42.53.

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.