Ally Financial Inc. (NYSE:ALLY) Holdings Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Ally Financial Inc. (NYSE:ALLY) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,742 shares of the financial services provider’s stock after selling 1,335 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ally Financial were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners acquired a new position in Ally Financial in the 1st quarter worth about $152,079,000. Wedge Capital Management L L P NC grew its stake in shares of Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after buying an additional 1,191,529 shares in the last quarter. Delta Global Management LP increased its holdings in Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after buying an additional 1,005,182 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after acquiring an additional 987,489 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Ally Financial by 2,088.2% in the third quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock valued at $25,940,000 after acquiring an additional 695,555 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Trading Down 2.4 %

Ally Financial stock opened at $36.64 on Wednesday. Ally Financial Inc. has a 12 month low of $25.23 and a 12 month high of $45.46. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The business has a 50 day moving average price of $35.50 and a two-hundred day moving average price of $38.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business earned $0.83 earnings per share. Ally Financial’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALLY shares. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Keefe, Bruyette & Woods reduced their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Morgan Stanley decreased their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays cut their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Finally, TD Cowen decreased their target price on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial currently has an average rating of “Hold” and an average target price of $40.38.

Ally Financial Profile

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.