IFM Investors Pty Ltd Sells 1,484 Shares of Ally Financial Inc. (NYSE:ALLY)

IFM Investors Pty Ltd cut its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,877 shares of the financial services provider’s stock after selling 1,484 shares during the quarter. IFM Investors Pty Ltd’s holdings in Ally Financial were worth $1,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 526 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Ally Financial in the 1st quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Ally Financial in the 2nd quarter worth about $41,000. Hobbs Group Advisors LLC bought a new stake in Ally Financial in the 2nd quarter worth about $52,000. Finally, First Community Trust NA bought a new stake in Ally Financial in the 2nd quarter worth about $53,000. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company dropped their target price on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.38.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $34.42 on Monday. The firm has a fifty day moving average price of $36.96 and a 200-day moving average price of $38.98. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $10.46 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. Ally Financial Inc. has a 1 year low of $23.26 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. Equities analysts anticipate that Ally Financial Inc. will post 2.87 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.49%. 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.