Waterfront Wealth Inc. Decreases Position in Ally Financial Inc. (NYSE:ALLY)

Waterfront Wealth Inc. trimmed its position in shares of Ally Financial Inc. (NYSE:ALLY) by 34.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,740 shares of the financial services provider’s stock after selling 30,013 shares during the quarter. Waterfront Wealth Inc.’s holdings in Ally Financial were worth $1,981,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Ally Financial in the third quarter valued at $26,000. Salem Investment Counselors Inc. lifted its position in shares of Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 345 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of Ally Financial in the second quarter valued at $30,000. Natixis purchased a new stake in shares of Ally Financial in the fourth quarter valued at $41,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Ally Financial by 337.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,206 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Up 0.9 %

Shares of ALLY stock traded up $0.31 during trading hours on Wednesday, reaching $36.27. The company had a trading volume of 4,402,482 shares, compared to its average volume of 3,910,163. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $41.56. The company has a market capitalization of $11.02 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.54 and a beta of 1.40. The stock’s fifty day simple moving average is $37.58 and its 200 day simple moving average is $32.76.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Ally Financial had a return on equity of 9.41% and a net margin of 12.42%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $1.08 earnings per share. As a group, sell-side analysts expect that Ally Financial Inc. will post 2.94 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.31%. Ally Financial’s dividend payout ratio (DPR) is currently 40.13%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALLY shares. Evercore ISI upped their price objective on Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. BMO Capital Markets increased their target price on Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 23rd. StockNews.com downgraded Ally Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. downgraded Ally Financial from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $37.00 to $39.00 in a research report on Wednesday, April 3rd. Finally, Barclays increased their target price on Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $37.59.

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.