KBC Group NV Decreases Holdings in Ally Financial Inc. (NYSE:ALLY)

KBC Group NV decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 63.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 249,504 shares of the financial services provider’s stock after selling 437,392 shares during the period. KBC Group NV’s holdings in Ally Financial were worth $8,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in Ally Financial by 1.2% in the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after purchasing an additional 278 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ally Financial by 8.2% in the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares during the last quarter. Allworth Financial LP boosted its holdings in Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the period. Versant Capital Management Inc grew its position in Ally Financial by 39.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 463 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Ally Financial by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock worth $2,981,000 after purchasing an additional 480 shares during the period. Institutional investors own 88.76% of the company’s stock.

Analysts Set New Price Targets

ALLY has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $46.00 to $40.00 in a research note on Monday, October 7th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Morgan Stanley lowered their price objective on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Evercore ISI lowered their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.69.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $36.22 on Friday. The company has a 50 day simple moving average of $35.14 and a two-hundred day simple moving average of $38.75. Ally Financial Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $45.46. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.43 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 (NYSE:ALLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

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.