Wedge Capital Management L L P NC Sells 41,056 Shares of Ally Financial Inc. $ALLY

Wedge Capital Management L L P NC decreased its stake in Ally Financial Inc. (NYSE:ALLY) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 820,960 shares of the financial services provider’s stock after selling 41,056 shares during the quarter. Wedge Capital Management L L P NC owned about 0.27% of Ally Financial worth $37,723,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ALLY. Oliver Luxxe Assets LLC raised its stake in shares of Ally Financial by 36.6% in the second quarter. Oliver Luxxe Assets LLC now owns 11,639 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 3,121 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Ally Financial by 75.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 895,286 shares of the financial services provider’s stock valued at $41,138,000 after acquiring an additional 385,311 shares during the period. GAMMA Investing LLC raised its position in shares of Ally Financial by 16.2% in the 2nd quarter. GAMMA Investing LLC now owns 12,097 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 1,690 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ally Financial by 17.5% in the 2nd quarter. Versant Capital Management Inc now owns 6,869 shares of the financial services provider’s stock valued at $316,000 after buying an additional 1,023 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Ally Financial by 88.4% in the first quarter. Glenmede Trust Co. NA now owns 51,806 shares of the financial services provider’s stock valued at $2,032,000 after acquiring an additional 24,302 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Price Performance

Ally Financial stock opened at $43.97 on Wednesday. The company has a 50-day moving average price of $44.67 and a 200 day moving average price of $42.55. The stock has a market cap of $13.38 billion, a P/E ratio of 10.37, a PEG ratio of 0.27 and a beta of 1.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29.

Ally Financial (NYSE:ALLY) last released 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). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

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

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was 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 $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALLY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $58.00 target price on shares of Ally Financial in a research report on Wednesday, July 22nd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Royal Bank Of Canada upped their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Evercore reaffirmed an “outperform” rating and set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, Citigroup cut their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.64.

About Ally Financial

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.