First Horizon Advisors Inc. Cuts Position in Ally Financial Inc. (NYSE:ALLY)

First Horizon Advisors Inc. trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 5.7% in the third quarter, HoldingsChannel.com reports. The fund owned 7,655 shares of the financial services provider’s stock after selling 465 shares during the period. First Horizon Advisors Inc.’s holdings in Ally Financial were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALLY. Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $25,000 after purchasing an additional 526 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Ally Financial in the first quarter valued at about $28,000. Venturi Wealth Management LLC grew its position in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ally Financial during the 2nd quarter worth approximately $41,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Ally Financial in the 2nd quarter worth approximately $52,000. 88.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALLY. Wells Fargo & Company reduced their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. TD Cowen decreased their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $46.00 to $40.00 in a research note on Monday, October 7th. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.69.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $37.85 on Friday. The firm has a market capitalization of $11.53 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The stock’s 50-day simple moving average is $35.35 and its two-hundred day simple moving average is $38.66. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business earned $0.83 earnings per share. Ally Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.00%.

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.