Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Ally Financial Inc (NYSE:ALLY) by 36.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,896 shares of the financial services provider’s stock after selling 88,902 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ally Financial were worth $4,123,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of ALLY. Capital Fund Management S.A. acquired a new stake in Ally Financial in the second quarter valued at $15,987,000. Bank of Nova Scotia acquired a new stake in Ally Financial in the second quarter valued at $1,681,000. Toronto Dominion Bank lifted its holdings in Ally Financial by 43.2% in the second quarter. Toronto Dominion Bank now owns 43,331 shares of the financial services provider’s stock valued at $1,138,000 after acquiring an additional 13,063 shares during the period. BlackRock Inc. lifted its holdings in Ally Financial by 8.8% in the second quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock valued at $697,136,000 after acquiring an additional 2,148,484 shares during the period. Finally, Greenleaf Trust lifted its holdings in Ally Financial by 8.5% in the third quarter. Greenleaf Trust now owns 229,425 shares of the financial services provider’s stock valued at $6,068,000 after acquiring an additional 17,930 shares during the period. 98.21% of the stock is owned by hedge funds and other institutional investors.
NYSE:ALLY opened at $26.68 on Friday. The firm has a market cap of $10.94 billion, a PE ratio of 11.16, a PEG ratio of 0.65 and a beta of 1.23. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.18 and a quick ratio of 1.18. Ally Financial Inc has a 52-week low of $23.69 and a 52-week high of $31.29.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, October 31st. Ally Financial’s dividend payout ratio is presently 25.10%.
A number of research firms have commented on ALLY. Zacks Investment Research reissued a “buy” rating and issued a $27.00 target price on shares of Ally Financial in a report on Monday, November 12th. Oppenheimer set a $32.00 target price on Ally Financial and gave the company a “buy” rating in a report on Thursday, October 25th. ValuEngine downgraded Ally Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Nomura reduced their target price on Ally Financial from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Finally, Piper Jaffray Companies set a $34.00 target price on Ally Financial and gave the company a “buy” rating in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.
In related news, CAO David J. Debrunner sold 25,000 shares of Ally Financial stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $26.35, for a total transaction of $658,750.00. Following the completion of the sale, the chief accounting officer now owns 102,155 shares in the company, valued at approximately $2,691,784.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.
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Ally Financial Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
See Also: Bear Market
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