Charles Schwab Investment Management Inc. Reduces Holdings in Ally Financial Inc. (NYSE:ALLY)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 2,312,536 shares of the financial services provider’s stock after selling 6,751 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ally Financial were worth $84,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALLY. Cerity Partners LLC increased its stake in shares of Ally Financial by 11.7% during the 4th quarter. Cerity Partners LLC now owns 18,411 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 1,923 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ally Financial by 70.0% during the 4th quarter. Renaissance Technologies LLC now owns 127,300 shares of the financial services provider’s stock worth $4,584,000 after purchasing an additional 52,400 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Ally Financial during the 4th quarter worth approximately $2,337,000. Sterling Capital Management LLC increased its stake in shares of Ally Financial by 50.8% during the 4th quarter. Sterling Capital Management LLC now owns 14,659 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 4,940 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Ally Financial by 56.5% in the 4th quarter. Bridgewater Associates LP now owns 212,301 shares of the financial services provider’s stock worth $7,645,000 after acquiring an additional 76,652 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Up 1.6%

Shares of NYSE ALLY opened at $38.91 on Thursday. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $43.86. The firm has a fifty day moving average of $38.37 and a 200-day moving average of $36.29. The stock has a market capitalization of $11.98 billion, a PE ratio of 25.27, a P/E/G ratio of 0.30 and a beta of 1.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.97 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Ally Financial’s payout ratio is presently 77.92%.

Analyst Ratings Changes

ALLY has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. BTIG Research raised shares of Ally Financial from a “sell” rating to a “neutral” rating in a research note on Monday, July 14th. Truist Financial lifted their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Citigroup reaffirmed a “buy” rating and issued a $59.00 target price (up from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. One 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.80.

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.