Summit Global Investments Sells 440 Shares of Ally Financial Inc. (NYSE:ALLY)

Summit Global Investments reduced its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,495 shares of the financial services provider’s stock after selling 440 shares during the quarter. Summit Global Investments’ holdings in Ally Financial were worth $506,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. NBC Securities Inc. acquired a new stake in Ally Financial in the third quarter valued at approximately $26,000. Friedenthal Financial bought a new position in shares of Ally Financial in the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Ally Financial by 337.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,206 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Ally Financial during the 4th quarter worth $67,000. Finally, GAMMA Investing LLC acquired a new position in Ally Financial in the 4th quarter worth about $78,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Up 1.5 %

Ally Financial stock opened at $39.37 on Friday. The company has a market capitalization of $11.97 billion, a PE ratio of 16.07, a PEG ratio of 0.57 and a beta of 1.39. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.56. The firm’s fifty day moving average is $38.30 and its 200 day moving average is $33.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts predict that Ally Financial Inc. will post 2.99 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 3.05%. Ally Financial’s payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

ALLY has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a report on Monday, January 22nd. Morgan Stanley upgraded shares of Ally Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $37.00 to $47.00 in a research report on Thursday, February 8th. Evercore ISI lifted their price target on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, TD Cowen lifted their target price on Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.47.

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.