Fmr LLC Sells 246,330 Shares of Ally Financial Inc. (NYSE:ALLY)

Fmr LLC lowered its holdings in Ally Financial Inc. (NYSE:ALLY) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,224,080 shares of the financial services provider’s stock after selling 246,330 shares during the period. Fmr LLC owned about 1.06% of Ally Financial worth $114,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in Ally Financial by 1.2% in the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 278 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Ally Financial by 1.9% during the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock worth $557,000 after buying an additional 293 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ally Financial by 8.2% during the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after buying an additional 352 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Ally Financial by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock worth $2,981,000 after purchasing an additional 480 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Down 0.7 %

Shares of Ally Financial stock opened at $38.83 on Thursday. The firm has a market capitalization of $11.83 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.42. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $36.18 and its 200 day moving average is $38.61. Ally Financial Inc. has a 1 year low of $29.05 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.83 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.09%. Ally Financial’s dividend payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ALLY shares. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays decreased their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Evercore ISI decreased their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Finally, Citigroup raised their target price on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.80.

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.