California Public Employees Retirement System Lowers Stock Position in Ally Financial Inc. (NYSE:ALLY)

California Public Employees Retirement System decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 499,364 shares of the financial services provider’s stock after selling 35,363 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Ally Financial worth $17,438,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ALLY. NBC Securities Inc. acquired a new position in Ally Financial in the third quarter valued at $26,000. Harvest Fund Management Co. Ltd increased its position in 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 valued at $42,000 after acquiring an additional 1,206 shares during the period. Friedenthal Financial purchased a new stake in Ally Financial during the 4th quarter valued at approximately $50,000. Rakuten Securities Inc. acquired a new stake in Ally Financial during the 4th quarter worth approximately $67,000. Finally, Planned Solutions Inc. purchased a new position in shares of Ally Financial in the 4th quarter valued at approximately $83,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Down 0.4 %

ALLY stock opened at $39.16 on Tuesday. 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’s 50 day simple moving average is $38.10 and its 200-day simple moving average is $33.63. The firm has a market capitalization of $11.90 billion, a PE ratio of 15.98, a P/E/G ratio of 0.57 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. Ally Financial’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. Equities analysts expect that Ally Financial Inc. will post 2.99 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. Raymond James downgraded shares of Ally Financial from a “market perform” rating to an “underperform” rating in a research report on Friday, January 5th. Wells Fargo & Company boosted their target price on Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research note on Monday, January 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus price target 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.