Oppenheimer Asset Management Inc. Reduces Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,904 shares of the financial services provider’s stock after selling 2,413 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Ally Financial during the 1st quarter worth about $28,000. Venturi Wealth Management LLC lifted its position in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial during the 2nd quarter worth about $41,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Ally Financial during the 2nd quarter worth about $52,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company reduced their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Finally, Citigroup upped their price target on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.69.

Ally Financial Price Performance

NYSE:ALLY opened at $36.22 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average of $35.20 and a two-hundred day moving average of $38.77. The firm has a market cap of $11.04 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. Ally Financial Inc. has a 12 month low of $26.50 and a 12 month high of $45.46.

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

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s 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.