Bank of New York Mellon Corp Has $69.55 Million Stock Holdings in Ally Financial Inc. $ALLY

Bank of New York Mellon Corp lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,785,729 shares of the financial services provider’s stock after selling 345,404 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Ally Financial worth $69,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in Ally Financial by 150.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 276,208 shares of the financial services provider’s stock worth $10,073,000 after buying an additional 165,843 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Ally Financial by 0.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 68,571 shares of the financial services provider’s stock valued at $2,552,000 after acquiring an additional 539 shares in the last quarter. Cerity Partners LLC raised its position in shares of Ally Financial by 51.1% during the first quarter. Cerity Partners LLC now owns 27,813 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 9,402 shares during the period. State of Michigan Retirement System raised its position in shares of Ally Financial by 1.3% during the first quarter. State of Michigan Retirement System now owns 72,564 shares of the financial services provider’s stock worth $2,646,000 after purchasing an additional 900 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Ally Financial by 2.9% in the 1st quarter. Xponance Inc. now owns 49,688 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

In other news, insider Kathleen L. Patterson sold 29,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the completion of the sale, the insider directly owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This trade represents a 22.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALLY. Evercore ISI decreased their price target on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research note on Tuesday, September 30th. TD Cowen upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $50.00 in a report on Monday, October 20th. Royal Bank Of Canada restated an “outperform” rating on shares of Ally Financial in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on Ally Financial from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, BTIG Research raised Ally Financial from a “sell” rating to a “neutral” rating in a research note on Monday, July 14th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Trading Up 1.6%

Shares of ALLY stock opened at $39.24 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 0.29 and a beta of 1.21. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $44.83. The company has a 50-day simple moving average of $40.62 and a two-hundred day simple moving average of $38.42.

Ally Financial (NYSE:ALLY) last announced its earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $2.06 billion for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%. Research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 annualized dividend and a yield of 3.1%. Ally Financial’s payout ratio is currently 72.29%.

About Ally Financial

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.