Ameritas Investment Partners Inc. Lowers Stake in Ally Financial Inc. (NYSE:ALLY)

Ameritas Investment Partners Inc. trimmed its holdings in Ally Financial Inc. (NYSE:ALLY) by 2.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 58,191 shares of the financial services provider’s stock after selling 1,749 shares during the period. Ameritas Investment Partners Inc.’s holdings in Ally Financial were worth $2,308,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position 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 purchased a new stake in shares of Ally Financial in the first quarter valued at about $28,000. Rise Advisors LLC acquired a new position in shares of Ally Financial during the first quarter worth about $32,000. Quarry LP raised its holdings in Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 598 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC lifted its position in Ally Financial by 571.7% in 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 period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Trading Down 1.4 %

Shares of ALLY stock opened at $34.48 on Friday. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.32 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $40.54 and a 200 day moving average price of $39.63. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.26% and a return on equity of 8.37%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Research analysts forecast that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.48%. Ally Financial’s payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Keefe, Bruyette & Woods decreased their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America lowered their price target on shares of 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, Wells Fargo & Company raised their price objective on shares of Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.41.

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.