Gateway Investment Advisers LLC Sells 6,347 Shares of Ally Financial Inc. (NYSE:ALLY)

Gateway Investment Advisers LLC lowered its stake in Ally Financial Inc. (NYSE:ALLY) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 234,213 shares of the financial services provider’s stock after selling 6,347 shares during the period. Gateway Investment Advisers LLC’s holdings in Ally Financial were worth $8,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ALLY. Boston Partners bought a new position in shares of Ally Financial during the 1st quarter worth approximately $152,079,000. Jennison Associates LLC bought a new position in Ally Financial during the first quarter worth $52,252,000. Delta Global Management LP increased its holdings in shares of Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after purchasing an additional 1,005,182 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after buying an additional 987,489 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its position in Ally Financial by 90.9% during the first quarter. ANTIPODES PARTNERS Ltd now owns 1,529,093 shares of the financial services provider’s stock worth $62,066,000 after buying an additional 727,966 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. Citigroup began coverage on shares of Ally Financial in a research report on Monday, June 24th. They issued a “buy” rating and a $50.00 target price for the company. Barclays reduced their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Finally, Evercore ISI lowered their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.63.

Ally Financial Stock Performance

Ally Financial stock opened at $35.66 on Friday. The business has a 50 day moving average of $38.07 and a 200-day moving average of $39.28. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $45.46. The company has a market capitalization of $10.84 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.42 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. Ally Financial’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, equities research analysts predict that Ally Financial Inc. will post 2.87 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.37%. Ally Financial’s dividend payout ratio (DPR) is 51.72%.

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.