Federated Hermes Inc. Has $1.17 Million Stock Position in Ally Financial Inc. (NYSE:ALLY)

Federated Hermes Inc. cut its holdings in Ally Financial Inc. (NYSE:ALLY) by 4.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,495 shares of the financial services provider’s stock after selling 1,260 shares during the period. Federated Hermes Inc.’s holdings in Ally Financial were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial in the first quarter valued at about $28,000. Rise Advisors LLC bought a new stake in Ally Financial during the first quarter worth about $32,000. SYSTM Wealth Solutions LLC boosted its position in Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 789 shares during the last quarter. Finally, Quarry LP grew its stake in Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

NYSE ALLY opened at $34.48 on Friday. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $45.46. The firm has a 50-day moving average price of $40.54 and a two-hundred day moving average price of $39.63. The company has a market capitalization of $10.48 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.32 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. Analysts anticipate that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Barclays cut their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. upgraded shares of Ally Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $39.00 to $45.00 in a research note on Monday, July 8th. Wells Fargo & Company boosted their price target on Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Finally, Citigroup initiated coverage on Ally Financial in a research report on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight 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 $41.41.

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.