PNC Financial Services Group Inc. Has $1.07 Million Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

PNC Financial Services Group Inc. cut its position in shares of Ally Financial Inc. (NYSE:ALLY) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,803 shares of the financial services provider’s stock after selling 2,371 shares during the period. PNC Financial Services Group Inc.’s holdings in Ally Financial were worth $1,073,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ALLY. Assenagon Asset Management S.A. increased its stake in shares of Ally Financial by 233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after purchasing an additional 1,701,264 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ally Financial by 217.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after buying an additional 1,563,008 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Ally Financial during the 3rd quarter worth about $21,571,000. 140 Summer Partners LP bought a new stake in shares of Ally Financial during the 3rd quarter worth about $19,140,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Ally Financial by 184.7% during the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock worth $19,044,000 after buying an additional 345,210 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ally Financial news, CEO Michael George Rhodes acquired 25,634 shares of the company’s stock in a transaction on Monday, January 27th. The shares were purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the purchase, the chief executive officer now owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the company’s stock in a transaction on Friday, January 24th. The stock was acquired at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the purchase, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on shares of Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Wolfe Research downgraded shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Barclays boosted their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average price target of $43.76.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $34.15 on Monday. The company has a 50 day moving average of $36.99 and a 200-day moving average of $36.61. Ally Financial Inc. has a 1-year low of $31.95 and a 1-year high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a market cap of $10.49 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio is 46.15%.

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.