Ally Financial Inc. $ALLY Position Cut by Sei Investments Co.

Sei Investments Co. reduced its holdings in Ally Financial Inc. (NYSE:ALLY) by 24.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,247,559 shares of the financial services provider’s stock after selling 412,777 shares during the quarter. Sei Investments Co. owned 0.41% of Ally Financial worth $48,942,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Ally Financial by 106.5% during the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock valued at $9,158,000 after purchasing an additional 129,497 shares during the period. NewEdge Advisors LLC lifted its holdings in Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares during the period. Empowered Funds LLC lifted its holdings in Ally Financial by 11.1% in the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares during the period. Focus Partners Wealth bought a new position in Ally Financial in the 1st quarter valued at about $259,000. Finally, EverSource Wealth Advisors LLC increased its stake in Ally Financial by 374.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,166 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Price Performance

NYSE ALLY opened at $42.88 on Friday. The stock has a market capitalization of $13.14 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.26 and a beta of 1.09. Ally Financial Inc. has a 1 year low of $35.92 and a 1 year high of $47.29. The business’s fifty day moving average is $44.30 and its two-hundred day moving average is $42.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, research analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 31st. Ally Financial’s dividend payout ratio is currently 28.30%.

Insider Activity at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Bank of America boosted their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Barclays boosted their price objective on Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Finally, Evercore reaffirmed an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a research note on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.86.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.