Royal Bank of Canada lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 5.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,983,897 shares of the financial services provider’s stock after selling 105,410 shares during the period. Royal Bank of Canada owned 0.41% of Ally Financial worth $41,463,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ALLY. UBS Asset Management Americas Inc. grew its holdings in shares of Ally Financial by 8.5% during the first quarter. UBS Asset Management Americas Inc. now owns 1,558,357 shares of the financial services provider’s stock worth $31,681,000 after purchasing an additional 121,682 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Ally Financial by 0.8% during the first quarter. TD Asset Management Inc. now owns 25,598 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 200 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Ally Financial by 19.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,360 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 2,203 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Ally Financial by 3.2% during the first quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 328 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Ally Financial by 57.7% during the first quarter. Nordea Investment Management AB now owns 12,209 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 4,469 shares during the last quarter.

Ally Financial Inc. (NYSE ALLY) opened at 24.35 on Friday. The firm has a 50-day moving average price of $22.90 and a 200 day moving average price of $21.02. Ally Financial Inc. has a 1-year low of $16.68 and a 1-year high of $24.57. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 12.41 and a beta of 1.44.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $0.54 EPS. Equities analysts predict that Ally Financial Inc. will post $2.27 earnings per share for the current year.

Ally Financial announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Several analysts have recently commented on the company. Stephens cut Ally Financial from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $23.00 to $20.00 in a report on Monday, July 17th. Sanford C. Bernstein restated an “outperform” rating and set a $31.00 target price (up previously from $30.00) on shares of Ally Financial in a report on Sunday, July 30th. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a report on Friday, July 28th. BidaskClub upgraded Ally Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Ally Financial has an average rating of “Buy” and a consensus price target of $25.77.

ILLEGAL ACTIVITY WARNING: “Ally Financial Inc. (ALLY) Shares Sold by Royal Bank of Canada” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/10/06/ally-financial-inc-ally-shares-sold-by-royal-bank-of-canada.html.

Ally Financial Profile

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY).

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

Receive News & Stock Ratings for Ally Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial Inc. and related stocks with our FREE daily email newsletter.