Wedge Capital Management L LP Cut Its Ally Financial INC (ALLY) Stake as Market Valuation Rose

Ally Financial Inc. (NYSE:ALLY) Logo

Wedge Capital Management L LP decreased its stake in Ally Financial Inc (ALLY) by 5.13% based on its latest 2018Q2 regulatory filing with the SEC. Wedge Capital Management L LP sold 437,330 shares as the company’s stock rose 0.61% with the market. The institutional investor held 8.09 million shares of the consumer services company at the end of 2018Q2, valued at $212.64M, down from 8.53 million at the end of the previous reported quarter. Wedge Capital Management L LP who had been investing in Ally Financial Inc for a number of months, seems to be less bullish one the $10.04B market cap company. The stock decreased 3.19% or $0.8 during the last trading session, reaching $24.31. About 1.47M shares traded. Ally Financial Inc. (NYSE:ALLY) has risen 16.05% since December 6, 2017 and is uptrending. It has outperformed by 0.43% the S&P500.

Wedge Capital Management L L P, which manages about $10.84 billion and $10.22B US Long portfolio, upped its stake in Ca Inc. (NASDAQ:CA) by 405,633 shares to 1.75 million shares, valued at $62.22M in 2018Q2, according to the filing. It also increased its holding in American Tower Corporation (NYSE:AMT) by 33,275 shares in the quarter, for a total of 108,349 shares, and has risen its stake in Ansys Inc. (NASDAQ:ANSS).

Analysts await Ally Financial Inc. (NYSE:ALLY) to report earnings on January, 29. They expect $0.81 EPS, up 15.71 % or $0.11 from last year’s $0.7 per share. ALLY’s profit will be $334.60 million for 7.50 P/E if the $0.81 EPS becomes a reality. After $0.91 actual EPS reported by Ally Financial Inc. for the previous quarter, Wall Street now forecasts -10.99 % negative EPS growth.

Ally Financial Inc. (NYSE:ALLY) Ratings Coverage

Among 5 analysts covering Ally Financial (NYSE:ALLY), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Ally Financial had 6 analyst reports since June 19, 2018 according to SRatingsIntel. The company was maintained on Thursday, October 4 by Oppenheimer. The firm has “Buy” rating by Janney Capital given on Friday, June 29. The stock of Ally Financial Inc. (NYSE:ALLY) earned “Buy” rating by Bank of America on Monday, July 30. Nomura initiated Ally Financial Inc. (NYSE:ALLY) on Tuesday, June 19 with “Hold” rating. Nomura maintained Ally Financial Inc. (NYSE:ALLY) on Friday, October 26 with “Neutral” rating.

Ally Financial Inc. (NYSE:ALLY) Ratings Chart

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