Stoneridge Investment Partners LLC reduced its stake in Ally Financial Inc. (NYSE:ALLY) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 380,357 shares of the financial services provider’s stock after selling 855 shares during the period. Ally Financial comprises 1.2% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 23rd largest position. Stoneridge Investment Partners LLC’s holdings in Ally Financial were worth $7,949,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Ally Financial by 1,072.5% in the first quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock valued at $471,567,000 after buying an additional 21,217,360 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in shares of Ally Financial during the first quarter valued at $143,806,000. Canada Pension Plan Investment Board boosted its stake in shares of Ally Financial by 1,058.4% in the first quarter. Canada Pension Plan Investment Board now owns 6,767,985 shares of the financial services provider’s stock valued at $137,593,000 after buying an additional 6,183,710 shares in the last quarter. Harris Associates L P boosted its stake in shares of Ally Financial by 12.0% in the first quarter. Harris Associates L P now owns 40,594,446 shares of the financial services provider’s stock valued at $825,285,000 after buying an additional 4,345,639 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Ally Financial by 10.2% in the first quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock valued at $783,374,000 after buying an additional 3,551,308 shares in the last quarter.

Ally Financial Inc. (NYSE:ALLY) opened at 22.87 on Wednesday. The company has a market cap of $10.97 billion, a PE ratio of 11.66 and a beta of 1.42. The firm’s 50-day moving average is $21.38 and its 200-day moving average is $20.69. Ally Financial Inc. has a 52-week low of $16.68 and a 52-week high of $23.62.

Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company earned $0.54 EPS. On average, equities research analysts anticipate that Ally Financial Inc. will post $2.27 EPS for the current year.

Ally Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, July 28th. This is an increase from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.10%. Ally Financial’s dividend payout ratio (DPR) is 24.49%.

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ALLY has been the topic of several research reports. BidaskClub upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research report on Friday, July 28th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of Ally Financial in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price target on shares of Ally Financial in a research report on Tuesday, July 4th. Finally, TheStreet upgraded shares of Ally Financial from a “c” rating to a “b-” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.07.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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