Principal Street Partners LLC Reduces Position in Ally Financial Inc. (NYSE:ALLY)

Principal Street Partners LLC decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 22.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,851 shares of the financial services provider’s stock after selling 39,566 shares during the quarter. Principal Street Partners LLC’s holdings in Ally Financial were worth $4,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Partners bought a new stake in Ally Financial during the 1st quarter valued at about $152,079,000. Wedge Capital Management L L P NC raised its stake in shares of Ally Financial by 584.7% during the third 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 acquiring an additional 1,191,529 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 11.3% in 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 purchasing an additional 987,489 shares during the period. Assenagon Asset Management S.A. grew 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 worth $25,940,000 after purchasing an additional 695,555 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Ally Financial by 182.2% in the second quarter. Los Angeles Capital Management LLC now owns 726,718 shares of the financial services provider’s stock worth $28,829,000 after purchasing an additional 469,199 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALLY. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Barclays dropped their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Citigroup raised their target price on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $46.00 to $40.00 in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.69.

Ally Financial Stock Down 1.2 %

Shares of ALLY stock opened at $38.53 on Tuesday. The stock’s fifty day moving average price is $35.47 and its 200 day moving average price is $38.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $26.50 and a 1-year high of $45.46. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, research analysts expect that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.11%. Ally Financial’s dividend payout ratio is currently 48.00%.

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.