Ffcm LLC reduced its stake in shares of Ally Financial Inc (NYSE:ALLY) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,088 shares of the financial services provider’s stock after selling 2,236 shares during the quarter. Ffcm LLC’s holdings in Ally Financial were worth $796,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in Ally Financial during the second quarter valued at approximately $149,000. NEXT Financial Group Inc purchased a new position in Ally Financial during the third quarter valued at approximately $153,000. Legacy Financial Advisors Inc. raised its position in Ally Financial by 58.1% during the third quarter. Legacy Financial Advisors Inc. now owns 6,152 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 2,261 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Ally Financial during the second quarter valued at approximately $159,000. Finally, Dakota Wealth Management purchased a new position in Ally Financial during the second quarter valued at approximately $248,000. Institutional investors own 98.21% of the company’s stock.
Shares of NYSE:ALLY opened at $24.91 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $10.15 billion, a PE ratio of 7.87, a PEG ratio of 0.60 and a beta of 1.23. Ally Financial Inc has a 1 year low of $23.69 and a 1 year high of $31.29.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, October 31st. Ally Financial’s dividend payout ratio is presently 25.10%.
Several analysts have commented on the company. Oppenheimer set a $32.00 price objective on Ally Financial and gave the company a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research reissued a “buy” rating and issued a $27.00 price objective on shares of Ally Financial in a report on Monday, November 12th. ValuEngine lowered Ally Financial from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Nomura dropped their price objective on Ally Financial from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Finally, Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $35.00 in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.50.
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Ally Financial Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
Further Reading: Why is the ex-dividend date different from the record date?
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