Amalgamated Bank Sells 40,848 Shares of Ally Financial Inc. (NYSE:ALLY)

Amalgamated Bank reduced its stake in Ally Financial Inc. (NYSE:ALLY) by 23.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,348 shares of the financial services provider’s stock after selling 40,848 shares during the period. Amalgamated Bank’s holdings in Ally Financial were worth $4,675,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Ally Financial by 70.4% in the first quarter. BNP Paribas Financial Markets now owns 162,589 shares of the financial services provider’s stock worth $6,599,000 after buying an additional 67,192 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Ally Financial by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 39,397 shares of the financial services provider’s stock worth $1,599,000 after acquiring an additional 3,488 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Ally Financial during the 1st quarter valued at approximately $411,000. GSA Capital Partners LLP grew its holdings in shares of Ally Financial by 144.9% in the first quarter. GSA Capital Partners LLP now owns 19,226 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 11,377 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in Ally Financial by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 237,585 shares of the financial services provider’s stock worth $9,644,000 after purchasing an additional 3,107 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $38.02 on Friday. The firm’s 50 day simple moving average is $35.73 and its 200-day simple moving average is $38.86. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a one year low of $25.16 and a one year high of $45.46. The firm has a market cap of $11.56 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.83 EPS. Ally Financial’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of recent research reports. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Evercore ISI dropped their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $46.00 to $40.00 in a research report on Monday, October 7th. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Bank of America decreased their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.38.

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.