Rhumbline Advisers Sells 36,414 Shares of Ally Financial Inc. $ALLY

Rhumbline Advisers reduced its position in shares of Ally Financial Inc. (NYSE:ALLY) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 767,427 shares of the financial services provider’s stock after selling 36,414 shares during the quarter. Rhumbline Advisers owned about 0.25% of Ally Financial worth $29,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ALLY. AXQ Capital LP bought a new position in shares of Ally Financial during the 2nd quarter worth $1,775,000. Franklin Resources Inc. lifted its stake in Ally Financial by 6.1% in the second quarter. Franklin Resources Inc. now owns 299,919 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 17,245 shares during the period. MAI Capital Management lifted its stake in Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 303 shares during the period. Entropy Technologies LP purchased a new position in Ally Financial during the 2nd quarter valued at about $4,141,000. Finally, Magnetar Financial LLC purchased a new position in Ally Financial during the 2nd quarter valued at about $1,158,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ally Financial news, insider Kathleen L. Patterson sold 29,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the sale, the insider directly owned 100,203 shares in the company, valued at approximately $4,094,294.58. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Ally Financial Trading Up 1.1%

NYSE:ALLY opened at $41.19 on Thursday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 0.28 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 quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $39.91 and a 200 day moving average of $38.94.

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

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, October 31st. Ally Financial’s dividend payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALLY shares. Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods cut their price objective on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company raised shares of Ally Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $37.00 to $45.00 in a research note on Tuesday, September 2nd. TD Cowen raised Ally Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $43.00 to $50.00 in a research report on Monday, October 20th. Finally, Morgan Stanley lifted their price target on Ally Financial from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

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.