Ellevest Inc. raised its stake in Ally Financial Inc. (NYSE:ALLY – Free Report) by 59.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,235 shares of the financial services provider’s stock after acquiring an additional 3,069 shares during the period. Ellevest Inc.’s holdings in Ally Financial were worth $222,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ALLY. Sessa Capital IM L.P. grew its position in Ally Financial by 426.5% in the first quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock valued at $241,979,000 after acquiring an additional 7,689,915 shares during the period. Millennium Management LLC grew its position in Ally Financial by 195.1% in the fourth quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after acquiring an additional 4,005,417 shares during the period. AQR Capital Management LLC grew its position in Ally Financial by 233.9% in the fourth quarter. AQR Capital Management LLC now owns 4,118,432 shares of the financial services provider’s stock valued at $100,160,000 after acquiring an additional 2,884,833 shares during the period. Thrivent Financial for Lutherans grew its position in Ally Financial by 72.5% in the first quarter. Thrivent Financial for Lutherans now owns 5,679,873 shares of the financial services provider’s stock valued at $144,780,000 after acquiring an additional 2,386,445 shares during the period. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Ally Financial by 424.2% during the second quarter. AustralianSuper Pty Ltd now owns 2,446,124 shares of the financial services provider’s stock worth $66,070,000 after purchasing an additional 1,979,526 shares during the last quarter. 86.04% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on ALLY. Royal Bank of Canada decreased their target price on Ally Financial from $35.00 to $33.00 in a report on Thursday, October 19th. Morgan Stanley decreased their target price on Ally Financial from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Thursday, October 19th. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 24th. The Goldman Sachs Group decreased their target price on Ally Financial from $32.00 to $31.00 in a report on Monday, October 2nd. Finally, StockNews.com began coverage on Ally Financial in a report on Thursday, October 5th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ally Financial presently has an average rating of “Hold” and a consensus target price of $29.80.
Ally Financial Trading Up 6.2 %
NYSE:ALLY opened at $27.04 on Wednesday. Ally Financial Inc. has a 1-year low of $21.58 and a 1-year high of $35.78. The business’s 50-day moving average price is $25.98 and its two-hundred day moving average price is $26.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 7.39 and a beta of 1.38.
Ally Financial (NYSE:ALLY – Get Free Report) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. Ally Financial had a return on equity of 11.36% and a net margin of 14.64%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts expect that Ally Financial Inc. will post 3.2 earnings per share for the current year.
Ally Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, October 31st. Ally Financial’s payout ratio is 32.79%.
About Ally Financial
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 Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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