Swedbank AB Sells 1,923 Shares of Ally Financial Inc. (NYSE:ALLY)

Swedbank AB reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,179 shares of the financial services provider’s stock after selling 1,923 shares during the period. Swedbank AB owned about 0.06% of Ally Financial worth $5,985,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC raised its stake in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 526 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after buying an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ally Financial in the 2nd quarter worth approximately $41,000. Allworth Financial LP boosted its holdings in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Ally Financial during the 2nd quarter valued at $52,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Up 0.2 %

ALLY stock opened at $39.49 on Thursday. The company has a market capitalization of $12.03 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.46 and a beta of 1.40. 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 $26.50 and a one year high of $45.46. The company’s 50 day moving average price is $35.70 and its two-hundred day moving average price is $38.65.

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

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.04%. Ally Financial’s payout ratio is currently 48.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALLY shares. Barclays reduced their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $46.00 to $40.00 in a research report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a research report on Monday, October 21st. Evercore ISI decreased their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Finally, StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial presently has an average rating of “Hold” and a consensus price target of $40.69.

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.