Ally Financial Inc. $ALLY Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC cut its stake in Ally Financial Inc. (NYSE:ALLY) by 33.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 147,028 shares of the financial services provider’s stock after selling 73,712 shares during the period. Philip James Wealth Mangement LLC’s holdings in Ally Financial were worth $5,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Ally Financial in the first quarter worth $1,998,000. Teacher Retirement System of Texas acquired a new stake in Ally Financial in the first quarter worth $1,462,000. Bessemer Group Inc. increased its position in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after buying an additional 377 shares during the period. GAMMA Investing LLC increased its position in Ally Financial by 40.6% in the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider’s stock worth $120,000 after buying an additional 952 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Ally Financial by 56.3% in the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider’s stock worth $2,466,000 after buying an additional 24,372 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALLY. Keefe, Bruyette & Woods dropped their target price on Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup increased their target price on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their price target on Ally Financial from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, July 21st. BTIG Research raised Ally Financial from a “sell” rating to a “neutral” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company raised Ally Financial from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.36.

Ally Financial Price Performance

NYSE:ALLY opened at $38.75 on Thursday. The business’s 50-day moving average price is $40.09 and its 200 day moving average price is $37.25. The firm has a market cap of $11.93 billion, a P/E ratio of 25.16, a PEG ratio of 0.31 and a beta of 1.18. 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 1.30.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.21. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.Ally Financial’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial’s payout ratio is presently 77.92%.

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.