PNC Financial Services Group Inc. Acquires 598 Shares of Ally Financial Inc. (NYSE:ALLY)

PNC Financial Services Group Inc. raised its holdings in Ally Financial Inc. (NYSE:ALLY) by 1.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 32,174 shares of the financial services provider’s stock after buying an additional 598 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ally Financial were worth $1,145,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares during the period. Venturi Wealth Management LLC lifted its holdings in Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial in the second quarter worth about $41,000. Allworth Financial LP grew its holdings in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in shares of Ally Financial in the 2nd quarter worth approximately $52,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $39.49 on Thursday. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.46 and a beta of 1.40. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $35.70 and a 200-day moving average price of $38.65. Ally Financial Inc. has a one year low of $26.50 and a one year high of $45.46.

Ally Financial (NYSE:ALLY) last released its earnings results 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. Equities analysts expect that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, November 1st. Ally Financial’s payout ratio is currently 48.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. Barclays reduced their price objective 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. Finally, Citigroup boosted their target price on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.69.

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.