Hsbc Holdings PLC Has $32.37 Million Position in Ally Financial Inc. (NYSE:ALLY)

Hsbc Holdings PLC grew its holdings in Ally Financial Inc. (NYSE:ALLY) by 9.5% during the second quarter, Holdings Channel.com reports. The firm owned 815,383 shares of the financial services provider’s stock after acquiring an additional 70,407 shares during the period. Hsbc Holdings PLC’s holdings in Ally Financial were worth $32,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALLY. Janney Montgomery Scott LLC boosted 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 worth $1,254,000 after purchasing an additional 1,126 shares in the last quarter. Norges Bank acquired a new position in Ally Financial in the fourth quarter worth $62,869,000. Dynamic Technology Lab Private Ltd acquired a new position in Ally Financial in the fourth quarter worth $459,000. PNC Financial Services Group Inc. boosted its stake in Ally Financial by 17.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 4,021 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Ally Financial during the fourth quarter worth $160,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barclays dropped their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Wells Fargo & Company boosted their target price on Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada dropped their price objective on Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.41.

Ally Financial Trading Down 1.4 %

Shares of ALLY stock opened at $34.48 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The company has a market cap of $10.48 billion, a PE ratio of 14.07, a P/E/G ratio of 0.32 and a beta of 1.40. The stock’s fifty day moving average price is $40.54 and its two-hundred day moving average price is $39.63.

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Ally Financial Company Profile

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.