New York Life Investment Management LLC Reduces Holdings in Ally Financial Inc. (NYSE:ALLY)

New York Life Investment Management LLC reduced its stake in Ally Financial Inc. (NYSE:ALLY) by 4.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,696 shares of the financial services provider’s stock after selling 1,446 shares during the quarter. New York Life Investment Management LLC’s holdings in Ally Financial were worth $1,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ALLY. Donald Smith & CO. Inc. raised its holdings in shares of Ally Financial by 22.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock worth $96,129,000 after buying an additional 495,584 shares during the last quarter. Northern Trust Corp increased its position in shares of Ally Financial by 34.2% in the 3rd quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock valued at $83,309,000 after acquiring an additional 795,754 shares during the period. Private Management Group Inc. raised its stake in Ally Financial by 9.4% in the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock worth $21,855,000 after acquiring an additional 70,615 shares during the last quarter. ING Groep NV acquired a new stake in Ally Financial during the 3rd quarter worth about $4,336,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Ally Financial during the 3rd quarter valued at about $724,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Price Performance

Ally Financial stock opened at $39.40 on Wednesday. The stock has a market capitalization of $11.98 billion, a P/E ratio of 16.08, a P/E/G ratio of 0.57 and a beta of 1.39. The company’s fifty day moving average price is $38.43 and its 200 day moving average price is $34.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $41.56.

Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. The business had revenue of $1.99 billion for 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 company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. As a group, equities research analysts anticipate that Ally Financial Inc. will post 2.99 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s payout ratio is 48.98%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALLY shares. JPMorgan Chase & Co. cut Ally Financial from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, January 22nd. Evercore ISI upped their price objective on shares of Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. TD Cowen raised their target price on shares of Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Ally Financial in a research report on Thursday, February 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average 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.