Private Management Group Inc. Cuts Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Private Management Group Inc. lessened its stake in Ally Financial Inc. (NYSE:ALLY) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 806,777 shares of the financial services provider’s stock after selling 12,359 shares during the period. Private Management Group Inc.’s holdings in Ally Financial were worth $28,173,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in Ally Financial in the third quarter worth about $26,000. Friedenthal Financial purchased a new stake in Ally Financial during the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Ally Financial by 337.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,206 shares in the last quarter. Denali Advisors LLC increased its holdings in Ally Financial by 68.6% in the 3rd quarter. Denali Advisors LLC now owns 1,897 shares of the financial services provider’s stock worth $51,000 after buying an additional 772 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Ally Financial during the 4th quarter valued at about $67,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALLY shares. Compass Point increased their target price on Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Barclays raised their price target on Ally Financial from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ally Financial in a research note on Wednesday, January 10th. They set a “buy” rating and a $47.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.47.

Ally Financial Trading Down 0.1 %

NYSE:ALLY traded down $0.02 during midday trading on Tuesday, hitting $39.72. 3,969,284 shares of the company traded hands, compared to its average volume of 4,013,582. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average is $37.85 and its 200-day moving average is $33.23. The firm has a market capitalization of $12.07 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.58 and a beta of 1.40. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.56.

Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.12. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS. On average, sell-side analysts predict that Ally Financial Inc. will post 2.9 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 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.