Ally Financial Inc. (NYSE:ALLY) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. reduced its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,499 shares of the financial services provider’s stock after selling 1,017 shares during the quarter. Waterfront Wealth Inc.’s holdings in Ally Financial were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its position in Ally Financial by 17.1% in the fourth quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock valued at $3,187,000 after acquiring an additional 13,352 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Ally Financial by 14.1% during the fourth quarter. First Trust Direct Indexing L.P. now owns 10,332 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 1,278 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Ally Financial in the fourth quarter worth about $955,000. Los Angeles Capital Management LLC purchased a new position in Ally Financial in the fourth quarter valued at about $2,019,000. Finally, Amalgamated Bank increased its holdings in Ally Financial by 6.6% during the 4th quarter. Amalgamated Bank now owns 184,093 shares of the financial services provider’s stock worth $6,429,000 after purchasing an additional 11,412 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALLY. Barclays raised their price target on shares of Ally Financial from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Citigroup assumed coverage on shares of Ally Financial in a research report on Monday, June 24th. They set a “buy” rating and a $50.00 price target on the stock. Royal Bank of Canada upped their price objective on Ally Financial from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price target on Ally Financial from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Two research analysts have 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.41.

Ally Financial Stock Performance

NYSE:ALLY traded up $0.73 during mid-day trading on Friday, hitting $43.19. 3,637,274 shares of the company’s stock traded hands, compared to its average volume of 2,228,790. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average of $41.72 and a two-hundred day moving average of $39.59. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.96 earnings per share. Ally Financial’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

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.