Allspring Global Investments Holdings LLC Cuts Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Allspring Global Investments Holdings LLC lowered its position in Ally Financial Inc. (NYSE:ALLY) by 92.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,482 shares of the financial services provider’s stock after selling 17,110 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ally Financial were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. AE Wealth Management LLC purchased a new stake in shares of Ally Financial in the third quarter valued at approximately $368,000. SG Americas Securities LLC grew its stake in shares of Ally Financial by 53.1% during the 3rd quarter. SG Americas Securities LLC now owns 43,178 shares of the financial services provider’s stock worth $1,152,000 after purchasing an additional 14,972 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Ally Financial in the 3rd quarter valued at about $860,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Ally Financial by 15.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 111,583 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 15,100 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Ally Financial by 4.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,617,545 shares of the financial services provider’s stock valued at $43,156,000 after purchasing an additional 65,176 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Down 0.4 %

NYSE ALLY opened at $39.16 on Tuesday. The company has a market cap of $11.90 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.57 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. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50-day moving average of $38.10 and a 200-day moving average of $33.63.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 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%. Ally Financial’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts predict that Ally Financial Inc. will post 2.99 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a report on Friday, April 19th. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $42.00 to $46.00 in a report on Tuesday, April 9th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research note on Friday. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Barclays lifted their target price on shares of Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.47.

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.