Nomura Asset Management Co. Ltd. trimmed its position in Ally Financial Inc (NYSE:ALLY) by 2.9% in the first quarter, Holdings Channel reports. The institutional investor owned 83,138 shares of the financial services provider’s stock after selling 2,484 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Ally Financial were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Signaturefd LLC acquired a new position in Ally Financial during the 1st quarter valued at $109,000. Focused Wealth Management Inc acquired a new position in Ally Financial during the 1st quarter valued at $163,000. ETRADE Capital Management LLC acquired a new position in Ally Financial during the 1st quarter valued at $226,000. Zweig DiMenna Associates LLC acquired a new position in Ally Financial during the 1st quarter valued at $242,000. Finally, American International Group Inc. acquired a new position in Ally Financial during the 4th quarter valued at $271,000. Institutional investors and hedge funds own 99.99% of the company’s stock.
ALLY has been the subject of several research analyst reports. Stephens upgraded shares of Ally Financial from an “underweight” rating to an “equal” rating and set a $29.00 target price for the company in a research note on Monday, April 9th. They noted that the move was a valuation call. BMO Capital Markets upped their target price on shares of Ally Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, March 19th. UBS Group initiated coverage on shares of Ally Financial in a research note on Tuesday, March 27th. They set a “buy” rating and a $33.00 target price for the company. Oppenheimer set a $38.00 target price on shares of Ally Financial and gave the company a “buy” rating in a research note on Monday, April 2nd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $30.00 target price on shares of Ally Financial in a research note on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.82.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.45 billion. Ally Financial had a net margin of 14.20% and a return on equity of 8.71%. During the same quarter in the previous year, the firm posted $0.48 EPS. analysts expect that Ally Financial Inc will post 2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, April 30th. Ally Financial’s dividend payout ratio (DPR) is presently 21.76%.
About Ally Financial
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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