Poplar Forest Capital LLC Cuts Position in Ally Financial Inc. (NYSE:ALLY)

Poplar Forest Capital LLC cut its stake in Ally Financial Inc. (NYSE:ALLY) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,711 shares of the financial services provider’s stock after selling 4,086 shares during the quarter. Ally Financial comprises about 2.2% of Poplar Forest Capital LLC’s portfolio, making the stock its 22nd biggest position. Poplar Forest Capital LLC owned approximately 0.15% of Ally Financial worth $16,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ALLY. Allspring Global Investments Holdings LLC grew its stake in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Ally Financial during the 1st quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial during the 2nd quarter valued at about $41,000. Hobbs Group Advisors LLC purchased a new stake in Ally Financial during the 2nd quarter valued at about $52,000. Finally, First Community Trust NA acquired a new position in shares of Ally Financial in the 2nd quarter valued at about $53,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Up 7.5 %

Ally Financial stock opened at $37.87 on Thursday. Ally Financial Inc. has a 1-year low of $25.16 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $11.51 billion, a PE ratio of 15.15, a P/E/G ratio of 0.41 and a beta of 1.40. The stock’s fifty day moving average is $35.82 and its two-hundred day moving average is $38.86.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. On average, sell-side analysts expect that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALLY. Evercore ISI decreased their price objective on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a report on Monday, October 7th. Keefe, Bruyette & Woods cut their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays dropped their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Bank of America lowered their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.38.

About Ally Financial

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.