Bank of New York Mellon Corp Trims Stock Position in Ally Financial Inc. (NYSE:ALLY)

Bank of New York Mellon Corp trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 37.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,184,954 shares of the financial services provider’s stock after selling 1,294,222 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ally Financial were worth $78,680,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its stake in Ally Financial by 68.8% in the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after buying an additional 28,114 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Ally Financial in the 4th quarter worth approximately $1,112,000. CWA Asset Management Group LLC purchased a new position in shares of Ally Financial in the 3rd quarter valued at approximately $1,338,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 18,671 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ally Financial during the third quarter valued at approximately $21,571,000. Institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price target on shares of Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on shares of Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Citigroup boosted their price target on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.76.

Insiders Place Their Bets

In other Ally Financial news, CFO Russell E. Hutchinson purchased 19,100 shares of Ally Financial stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $39.45 per share, with a total value of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rhodes acquired 25,634 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares of the company’s stock, valued at $1,002,033.06. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Ally Financial Trading Down 5.2 %

Shares of NYSE:ALLY opened at $35.18 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a 1 year low of $31.95 and a 1 year high of $45.46. The company has a market cap of $10.80 billion, a P/E ratio of 13.53, a PEG ratio of 0.32 and a beta of 1.45. The stock’s fifty day moving average price is $37.28 and its 200-day moving average price is $37.14.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

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.