Federated Hermes Inc. Sells 1,260 Shares of Ally Financial Inc. (NYSE:ALLY)

Federated Hermes Inc. trimmed its position in Ally Financial Inc. (NYSE:ALLY) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 29,495 shares of the financial services provider’s stock after selling 1,260 shares during the period. Federated Hermes Inc.’s holdings in Ally Financial were worth $1,170,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC grew its holdings in Ally Financial by 510.7% during the 2nd 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 bought a new stake in shares of Ally Financial in the first quarter worth $28,000. Rise Advisors LLC acquired a new stake in Ally Financial in the first quarter valued at $32,000. Quarry LP lifted its holdings in Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after buying an additional 598 shares during the period. Finally, SYSTM Wealth Solutions LLC grew its position in shares of Ally Financial by 571.7% in the 1st 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 last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALLY. Royal Bank of Canada lowered their price objective on Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Barclays reduced their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley lowered their target price on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. BTIG Research cut shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.41.

Ally Financial Price Performance

Shares of ALLY opened at $34.48 on Friday. The business’s fifty day moving average is $40.54 and its 200 day moving average is $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 quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $10.48 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The firm had revenue of $2 billion for 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 business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. Sell-side analysts anticipate that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend 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.