Forsta AP Fonden Sells 5,000 Shares of Ally Financial Inc. (NYSE:ALLY)

Forsta AP Fonden lowered its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,500 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Forsta AP Fonden’s holdings in Ally Financial were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the 1st quarter worth $28,000. Rise Advisors LLC bought a new position in shares of Ally Financial during the 1st quarter worth about $32,000. Quarry LP raised its position in shares of Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC lifted its stake in shares of Ally Financial by 571.7% in the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after buying an additional 789 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Up 0.2 %

Shares of NYSE ALLY opened at $33.05 on Tuesday. The firm has a 50 day moving average price of $41.15 and a 200 day moving average price of $39.72. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market cap of $10.05 billion, a P/E ratio of 13.49, a P/E/G ratio of 0.32 and a beta of 1.40. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Analysts expect that Ally Financial Inc. will post 3.51 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.63%. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday. Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 price objective for the company. Evercore ISI upped their target price on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.41.

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.