Oppenheimer Asset Management Inc. Cuts Stock Holdings in Ally Financial Inc. $ALLY

Oppenheimer Asset Management Inc. reduced its stake in Ally Financial Inc. (NYSE:ALLY) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 100,401 shares of the financial services provider’s stock after selling 2,133 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $3,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. WPG Advisers LLC bought a new position in shares of Ally Financial in the 1st quarter worth $25,000. SVB Wealth LLC purchased a new position in Ally Financial in the first quarter worth $27,000. Private Trust Co. NA increased its stake in Ally Financial by 125.7% in the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 509 shares during the last quarter. Bessemer Group Inc. raised its position in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 377 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Ally Financial during the first quarter worth about $74,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

ALLY stock opened at $40.84 on Wednesday. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 0.31 and a beta of 1.18. The firm’s 50-day moving average price is $40.76 and its two-hundred day moving average price is $37.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $44.83.

Ally Financial (NYSE:ALLY) last posted its earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The company had revenue of $2.06 billion for the quarter. As a group, equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ally Financial’s payout ratio is 72.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALLY shares. BTIG Research upgraded Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods reduced their price target on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Truist Financial lifted their price target on shares of Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Ally Financial in a report on Tuesday, October 14th. Finally, Evercore ISI reduced their target price on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

Insider Activity at Ally Financial

In related news, insider Kathleen L. Patterson sold 29,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the sale, the insider owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This trade represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Ally Financial 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.