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New York State Common Retirement Fund Sells 10,617 Shares of Ally Financial Inc. (NYSE:ALLY)

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New York State Common Retirement Fund trimmed its position in Ally Financial Inc. (NYSE:ALLYGet Rating) by 2.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 412,988 shares of the financial services provider’s stock after selling 10,617 shares during the period. New York State Common Retirement Fund owned about 0.12% of Ally Financial worth $17,957,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ALLY. First Trust Advisors LP boosted its position in shares of Ally Financial by 42.1% in the 4th quarter. First Trust Advisors LP now owns 4,171,050 shares of the financial services provider’s stock worth $198,584,000 after purchasing an additional 1,236,136 shares during the last quarter. Sixth Street Partners Management Company L.P. boosted its position in shares of Ally Financial by 7.6% in the 4th quarter. Sixth Street Partners Management Company L.P. now owns 3,544,954 shares of the financial services provider’s stock worth $168,775,000 after purchasing an additional 250,000 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Ally Financial by 37.0% in the 4th quarter. Artemis Investment Management LLP now owns 3,249,060 shares of the financial services provider’s stock worth $154,520,000 after purchasing an additional 877,609 shares during the last quarter. Luxor Capital Group LP boosted its position in shares of Ally Financial by 121.9% in the 4th quarter. Luxor Capital Group LP now owns 3,193,608 shares of the financial services provider’s stock worth $152,048,000 after purchasing an additional 1,754,694 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Ally Financial by 20.3% in the 4th quarter. Bank of America Corp DE now owns 2,874,528 shares of the financial services provider’s stock worth $136,855,000 after purchasing an additional 484,696 shares during the last quarter. 94.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley reduced their price target on Ally Financial from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Wells Fargo & Company dropped their price objective on Ally Financial from $57.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, April 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ally Financial in a research note on Wednesday, July 13th. Credit Suisse Group dropped their price objective on Ally Financial to $55.00 in a research note on Friday, July 22nd. Finally, Piper Sandler downgraded Ally Financial from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $45.00 to $34.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ally Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.64.

Ally Financial Stock Performance

ALLY opened at $32.76 on Friday. The business’s 50-day moving average price is $35.53 and its two-hundred day moving average price is $41.33. Ally Financial Inc. has a 1 year low of $31.66 and a 1 year high of $56.28. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 4.72, a P/E/G ratio of 0.14 and a beta of 1.33. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.88 and a quick ratio of 0.86.

Ally Financial (NYSE:ALLYGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.19). Ally Financial had a net margin of 29.79% and a return on equity of 20.99%. During the same period last year, the company posted $2.33 earnings per share. Equities analysts expect that Ally Financial Inc. will post 7.36 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, July 29th. Ally Financial’s payout ratio is 17.29%.

About Ally Financial

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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