CIBC Asset Management Inc Raises Stock Position in Ally Financial Inc. (NYSE:ALLY)

CIBC Asset Management Inc lifted its holdings in Ally Financial Inc. (NYSE:ALLY) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 15,638 shares of the financial services provider’s stock after buying an additional 293 shares during the quarter. CIBC Asset Management Inc’s holdings in Ally Financial were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALLY. Allspring Global Investments Holdings LLC grew its holdings in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Ally Financial during the first quarter valued at $28,000. Venturi Wealth Management LLC increased its holdings in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial in the 2nd quarter worth $41,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Ally Financial during the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALLY shares. Citigroup boosted their target price on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Morgan Stanley reduced their price target on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.69.

Ally Financial Stock Down 0.1 %

Shares of ALLY opened at $35.53 on Thursday. The firm has a market capitalization of $10.83 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.43 and a beta of 1.40. Ally Financial Inc. has a 12-month low of $26.50 and a 12-month high of $45.46. The firm has a fifty day moving average price of $35.12 and a 200-day moving average price of $38.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts expect that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio is 48.00%.

Ally Financial Company 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.