Oppenheimer Asset Management Inc. Cuts Stake in Ally Financial Inc. (ALLY)
Oppenheimer Asset Management Inc. lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,252 shares of the financial services provider’s stock after selling 4,372 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.11% of Ally Financial worth $11,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of ALLY. Capstone Asset Management Co. acquired a new stake in Ally Financial in the second quarter worth about $208,000. Strs Ohio boosted its holdings in Ally Financial by 22.2% in the second quarter. Strs Ohio now owns 68,804 shares of the financial services provider’s stock worth $1,438,000 after acquiring an additional 12,522 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Ally Financial by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 86,776 shares of the financial services provider’s stock worth $1,814,000 after acquiring an additional 411 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Ally Financial by 11.6% in the second quarter. Daiwa Securities Group Inc. now owns 13,500 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Ally Financial by 15.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 41,878 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 5,685 shares in the last quarter.
ALLY has been the subject of several recent analyst reports. Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a report on Friday, September 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Ally Financial in a report on Friday, August 25th. Jefferies Group reaffirmed a “buy” rating and set a $28.00 target price on shares of Ally Financial in a report on Wednesday, August 23rd. Zacks Investment Research raised Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, September 26th. Finally, Citigroup initiated coverage on Ally Financial in a report on Monday, October 16th. They set a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $28.00.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. During the same period in the previous year, the business earned $0.56 earnings per share. sell-side analysts anticipate that Ally Financial Inc. will post 2.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is presently 22.22%.
About Ally Financial
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.
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.