Interval Partners LP Sells 79,541 Shares of Ally Financial Inc. (NYSE:ALLY)

Interval Partners LP cut its stake in Ally Financial Inc. (NYSE:ALLY) by 34.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,244 shares of the financial services provider’s stock after selling 79,541 shares during the quarter. Interval Partners LP owned 0.05% of Ally Financial worth $6,040,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Ally Financial by 245.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after acquiring an additional 432,350 shares during the period. Allianz Asset Management GmbH raised its holdings in Ally Financial by 18.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock worth $58,040,000 after buying an additional 261,897 shares during the period. OLD National Bancorp IN lifted its stake in Ally Financial by 3.8% in the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after buying an additional 32,478 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock valued at $14,988,000 after buying an additional 49,539 shares during the period. Finally, Banque Cantonale Vaudoise increased its position in shares of Ally Financial by 309.5% during the first quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after acquiring an additional 75,063 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. upgraded shares of Ally Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $39.00 to $45.00 in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.06.

Ally Financial Price Performance

NYSE:ALLY opened at $33.99 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average price is $40.35 and its two-hundred day moving average price is $39.64. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.32 and a beta of 1.40. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY) last released 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 earnings per share. On average, analysts anticipate that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.53%. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

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.