Verition Fund Management LLC Sells 34,874 Shares of Ally Financial Inc (ALLY)
Verition Fund Management LLC cut its position in Ally Financial Inc (NYSE:ALLY) by 54.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,606 shares of the financial services provider’s stock after selling 34,874 shares during the quarter. Verition Fund Management LLC’s holdings in Ally Financial were worth $751,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLY. Tower Research Capital LLC TRC acquired a new position in Ally Financial in the 2nd quarter valued at $149,000. NumerixS Investment Technologies Inc acquired a new position in Ally Financial in the 2nd quarter valued at $159,000. Ostrum Asset Management acquired a new position in Ally Financial in the 1st quarter valued at $221,000. Commonwealth Equity Services LLC acquired a new position in Ally Financial in the 1st quarter valued at $223,000. Finally, Dakota Wealth Management acquired a new position in Ally Financial in the 2nd quarter valued at $248,000. Institutional investors and hedge funds own 98.96% of the company’s stock.
Shares of ALLY opened at $27.25 on Wednesday. Ally Financial Inc has a 12-month low of $23.18 and a 12-month high of $31.29. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 3.60. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.70 and a beta of 1.34.
Several equities analysts have weighed in on ALLY shares. ValuEngine cut Ally Financial from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Instinet assumed coverage on Ally Financial in a report on Tuesday, June 19th. They set a “neutral” rating and a $28.00 price target for the company. Nomura assumed coverage on Ally Financial in a report on Tuesday, June 19th. They set a “neutral” rating and a $28.00 price target for the company. Janney Montgomery Scott raised Ally Financial from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a report on Friday, June 29th. Finally, Zacks Investment Research raised Ally Financial from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.75.
Ally Financial Company Profile
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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