Public Employees Retirement Association of Colorado lowered its stake in Ally Financial Inc. (NYSE:ALLY) by 3.5% during the third quarter, Holdings Channel reports. The fund owned 90,606 shares of the company’s stock after selling 3,292 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Ally Financial were worth $1,764,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Mizuho Asset Management Co. Ltd. boosted its stake in Ally Financial by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,999 shares of the company’s stock worth $119,000 after buying an additional 4,467 shares during the period. First Mercantile Trust Co. boosted its stake in Ally Financial by 18.5% in the third quarter. First Mercantile Trust Co. now owns 7,700 shares of the company’s stock worth $150,000 after buying an additional 1,200 shares during the period. Advisors Asset Management Inc. boosted its stake in Ally Financial by 107.6% in the third quarter. Advisors Asset Management Inc. now owns 8,256 shares of the company’s stock worth $161,000 after buying an additional 4,280 shares during the period. Barnett & Company Inc. purchased a new stake in Ally Financial during the first quarter worth about $178,000. Finally, Seven Eight Capital LLC boosted its stake in Ally Financial by 180.5% in the first quarter. Seven Eight Capital LLC now owns 10,412 shares of the company’s stock worth $195,000 after buying an additional 6,700 shares during the period.
Ally Financial Inc. (NYSE:ALLY) traded down 0.85% during mid-day trading on Friday, hitting $19.78. 1,955,586 shares of the stock traded hands. The firm’s 50-day moving average price is $18.86 and its 200-day moving average price is $18.26. Ally Financial Inc. has a 52 week low of $14.55 and a 52 week high of $20.34. The firm’s market cap is $9.49 billion.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.03. Ally Financial had a return on equity of 17.10% and a net margin of 16.52%. During the same quarter last year, the business earned $0.51 EPS. On average, equities analysts forecast that Ally Financial Inc. will post $2.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.08 per share. The ex-dividend date was Friday, October 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.62%. Ally Financial’s dividend payout ratio is presently -94.11%.
A number of equities research analysts have issued reports on the stock. Citigroup Inc. restated a “buy” rating and set a $22.00 price target on shares of Ally Financial in a report on Thursday, October 27th. TheStreet upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, November 9th. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, September 20th. Jefferies Group reiterated a “buy” rating and issued a $28.00 target price on shares of Ally Financial in a research note on Thursday, August 25th. Finally, Stephens assumed coverage on shares of Ally Financial in a research note on Tuesday, November 1st. They issued an “equal weight” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.78.
About Ally Financial
Ally Financial Inc is a financial holding company and a bank holding company. The Company’s banking subsidiary, Ally Bank, is a franchise in the Internet, telephone, mobile and mail banking market. The Company operates through three segments: Automotive Finance operations, Insurance operations and Mortgage operations.