Credit Suisse AG Sells 275,901 Shares of Ally Financial Inc. (NYSE:ALLY)

by · The Markets Daily

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Credit Suisse AG lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) by 30.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 625,201 shares of the financial services provider’s stock after selling 275,901 shares during the quarter. Credit Suisse AG owned approximately 0.21% of Ally Financial worth $16,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ALLY. Sessa Capital IM L.P. increased its stake in shares of Ally Financial by 426.5% in the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock worth $241,979,000 after acquiring an additional 7,689,915 shares in the last quarter. Millennium Management LLC increased its stake in shares of Ally Financial by 195.1% during the fourth quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after purchasing an additional 4,005,417 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Ally Financial by 233.9% during the fourth quarter. AQR Capital Management LLC now owns 4,118,432 shares of the financial services provider’s stock valued at $100,160,000 after purchasing an additional 2,884,833 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Ally Financial by 72.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 5,679,873 shares of the financial services provider’s stock worth $144,780,000 after purchasing an additional 2,386,445 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in Ally Financial by 424.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,446,124 shares of the financial services provider’s stock valued at $66,070,000 after buying an additional 1,979,526 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALLY shares. TheStreet cut Ally Financial from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Piper Sandler increased their price objective on shares of Ally Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, September 29th. JPMorgan Chase & Co. cut their price objective on shares of Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. TD Cowen started coverage on shares of Ally Financial in a research report on Wednesday, November 1st. They set a “market perform” rating and a $28.00 price objective on the stock. Finally, The Goldman Sachs Group cut their price objective on shares of Ally Financial from $32.00 to $31.00 in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.38.

View Our Latest Report on ALLY

Ally Financial Price Performance

Shares of ALLY stock opened at $30.82 on Wednesday. Ally Financial Inc. has a 52-week low of $21.58 and a 52-week high of $35.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $9.29 billion, a P/E ratio of 8.42 and a beta of 1.41. The stock has a 50 day moving average price of $26.09 and a 200 day moving average price of $27.20.

Ally Financial (NYSE:ALLY – Get Free Report) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.06 billion. Ally Financial had a return on equity of 11.36% and a net margin of 14.64%. Ally Financial’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.2 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Tuesday, October 31st. Ally Financial’s payout ratio is 32.79%.

Ally Financial Profile

(Free Report)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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