The Manufacturers Life Insurance Company Cuts Stock Position in Ally Financial Inc. (NYSE:ALLY)

The Manufacturers Life Insurance Company decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,874 shares of the financial services provider’s stock after selling 1,976 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Ally Financial worth $10,389,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners acquired a new position in Ally Financial during the 1st quarter worth $152,079,000. Scout Investments Inc. acquired a new position in shares of Ally Financial during the fourth quarter worth about $63,080,000. Jennison Associates LLC purchased a new stake in shares of Ally Financial during the first quarter worth approximately $52,252,000. Delta Global Management LP raised its holdings in Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after acquiring an additional 1,005,182 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after acquiring an additional 987,489 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Trading Down 0.2 %

NYSE ALLY opened at $34.46 on Friday. The firm’s fifty day moving average is $39.06 and its two-hundred day moving average is $39.44. Ally Financial Inc. has a one year low of $22.54 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $10.47 billion, a PE ratio of 14.06, a P/E/G ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Analysts expect that Ally Financial Inc. will post 3.15 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. 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%.

Analysts Set New Price Targets

Several research firms have commented on ALLY. Barclays dropped 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 report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft cut their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. JPMorgan Chase & Co. raised Ally Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, TD Cowen lowered their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $41.38.

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.