Amalgamated Bank Sells 12,578 Shares of Ally Financial Inc. (NYSE:ALLY)

Amalgamated Bank lessened its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 6.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,196 shares of the financial services provider’s stock after selling 12,578 shares during the period. Amalgamated Bank owned about 0.06% of Ally Financial worth $6,831,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Ally Financial by 133.6% during the 4th quarter. BNP Paribas Financial Markets now owns 95,397 shares of the financial services provider’s stock worth $3,331,000 after purchasing an additional 54,562 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Ally Financial by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,909 shares of the financial services provider’s stock valued at $1,254,000 after acquiring an additional 1,126 shares during the last quarter. Norges Bank acquired a new position in shares of Ally Financial during the 4th quarter worth about $62,869,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ally Financial in the 4th quarter valued at about $459,000. Finally, PNC Financial Services Group Inc. lifted its stake in Ally Financial by 17.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 4,021 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Up 2.7 %

Shares of NYSE ALLY opened at $34.96 on Friday. The stock has a 50-day moving average price of $40.71 and a two-hundred day moving average price of $39.63. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, analysts forecast that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. upgraded shares of Ally Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Evercore ISI raised 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. Keefe, Bruyette & Woods cut their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Citigroup began coverage on Ally Financial in a research note on Monday, June 24th. They set a “buy” rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus price target 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.