Lazard Asset Management LLC raised its holdings in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 102.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,178 shares of the financial services provider’s stock after acquiring an additional 6,166 shares during the quarter. Lazard Asset Management LLC’s holdings in Ally Financial were worth $407,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Ally Financial by 3.3% during the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ally Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,513,100 shares of the financial services provider’s stock valued at $283,226,000 after purchasing an additional 30,005 shares in the last quarter. Royal Bank of Canada grew its position in shares of Ally Financial by 5.6% during the first quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock valued at $262,433,000 after purchasing an additional 320,049 shares in the last quarter. LSV Asset Management grew its position in shares of Ally Financial by 3.0% during the first quarter. LSV Asset Management now owns 3,752,758 shares of the financial services provider’s stock valued at $163,170,000 after purchasing an additional 107,791 shares in the last quarter. Finally, Magnolia Group LLC grew its position in shares of Ally Financial by 56.6% during the second quarter. Magnolia Group LLC now owns 2,843,224 shares of the financial services provider’s stock valued at $95,276,000 after purchasing an additional 1,027,710 shares in the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Morgan Stanley lowered Ally Financial from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $40.00 to $28.00 in a research report on Thursday, October 20th. TheStreet lowered Ally Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, October 19th. JPMorgan Chase & Co. dropped their price target on Ally Financial from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 18th. Wells Fargo & Company lowered Ally Financial from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $32.00 to $23.00 in a research report on Thursday, October 20th. Finally, Stephens dropped their price target on Ally Financial from $39.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.42.
Ally Financial Stock Down 0.8 %
Shares of NYSE:ALLY opened at $26.01 on Friday. Ally Financial Inc. has a 1 year low of $24.83 and a 1 year high of $53.83. The business has a 50 day simple moving average of $28.70 and a two-hundred day simple moving average of $33.46. The firm has a market capitalization of $7.77 billion, a PE ratio of 4.39, a price-to-earnings-growth ratio of 0.14 and a beta of 1.29. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87.
Ally Financial (NYSE:ALLY – Get Rating) last posted its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.61). Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the firm posted $2.16 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that Ally Financial Inc. will post 6.05 EPS for the current year.
Ally Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, October 31st. Ally Financial’s dividend payout ratio is presently 20.24%.
Ally Financial Profile
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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