Royal Bank of Canada Lowers Holdings in Ally Financial Inc. $ALLY

Royal Bank of Canada lowered its holdings in Ally Financial Inc. (NYSE:ALLY) by 33.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,408 shares of the financial services provider’s stock after selling 82,122 shares during the period. Royal Bank of Canada’s holdings in Ally Financial were worth $6,293,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in Ally Financial by 48.7% during the 1st quarter. Quantinno Capital Management LP now owns 1,056,254 shares of the financial services provider’s stock worth $41,437,000 after buying an additional 345,750 shares in the last quarter. SummitTX Capital L.P. grew its stake in shares of Ally Financial by 48.0% in the first quarter. SummitTX Capital L.P. now owns 45,294 shares of the financial services provider’s stock worth $1,777,000 after acquiring an additional 14,698 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Ally Financial by 53.2% during the first quarter. Lazard Asset Management LLC now owns 14,515 shares of the financial services provider’s stock worth $569,000 after acquiring an additional 5,042 shares during the period. Waverly Advisors LLC increased its position in shares of Ally Financial by 19.6% during the first quarter. Waverly Advisors LLC now owns 23,442 shares of the financial services provider’s stock worth $920,000 after acquiring an additional 3,837 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ally Financial in the first quarter valued at $2,464,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALLY shares. The Goldman Sachs Group lifted their target price on Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 20th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $58.00 price objective on shares of Ally Financial in a research report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Bank of America increased their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.64.

Ally Financial Stock Up 0.4%

Shares of NYSE ALLY opened at $43.97 on Wednesday. The stock has a market cap of $13.38 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The business has a 50-day moving average price of $44.67 and a 200 day moving average price of $42.55.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Equities research analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, July 31st. Ally Financial’s dividend payout ratio is presently 28.30%.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

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.