Ally Financial Inc. $ALLY Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 30.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 876,995 shares of the financial services provider’s stock after selling 384,851 shares during the period. First Trust Advisors LP’s holdings in Ally Financial were worth $34,159,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALLY. Dimensional Fund Advisors LP raised its holdings in Ally Financial by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider’s stock valued at $320,855,000 after acquiring an additional 134,113 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Ally Financial in the 1st quarter worth about $253,881,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Ally Financial by 39.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock valued at $210,352,000 after purchasing an additional 1,523,425 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Ally Financial by 10.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider’s stock worth $169,909,000 after purchasing an additional 456,698 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of Ally Financial by 0.8% during the first quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider’s stock worth $155,317,000 after purchasing an additional 32,121 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Buying and Selling at Ally Financial

In other news, insider Kathleen L. Patterson sold 29,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the completion of the transaction, the insider directly owned 100,203 shares in the company, valued at approximately $4,094,294.58. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Ally Financial Stock Down 0.8%

Ally Financial stock opened at $42.33 on Wednesday. The company has a 50-day simple moving average of $39.90 and a 200-day simple moving average of $39.37. The firm has a market capitalization of $13.04 billion, a P/E ratio of 25.50, a P/E/G ratio of 0.29 and a beta of 1.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a one year low of $29.52 and a one year high of $44.83.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $2.06 billion for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. As a group, equities analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a $0.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALLY. Cowen raised Ally Financial from a “hold” rating to a “buy” rating in a report on Monday, October 20th. TD Cowen upgraded Ally Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $50.00 in a research report on Monday, October 20th. Morgan Stanley boosted their price target on Ally Financial from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

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.