Raymond James & Associates Has $4.34 Million Stock Position in Ally Financial Inc. (NYSE:ALLY)

Raymond James & Associates cut its holdings in Ally Financial Inc. (NYSE:ALLY) by 50.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,062 shares of the financial services provider’s stock after selling 122,639 shares during the quarter. Raymond James & Associates’ holdings in Ally Financial were worth $4,344,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALLY. Allspring Global Investments Holdings LLC boosted its stake in Ally Financial by 510.7% in the second 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 in the last quarter. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the first quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial in the second quarter valued at about $41,000. Hobbs Group Advisors LLC acquired a new stake in Ally Financial in the second quarter valued at about $52,000. Finally, First Community Trust NA acquired a new stake in Ally Financial in the second quarter valued at about $53,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Trading Down 0.5 %

Shares of ALLY stock opened at $34.57 on Friday. The company has a market cap of $10.51 billion, a P/E ratio of 13.83, a PEG ratio of 0.43 and a beta of 1.39. The stock has a 50 day simple moving average of $36.24 and a two-hundred day simple moving average of $38.91. 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 Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Research analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.47%. Ally Financial’s payout ratio is currently 48.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on ALLY. TD Cowen reduced their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Wells Fargo & Company cut their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Barclays cut their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.38.

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.