Kingswood Wealth Advisors LLC purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,366 shares of the financial services provider’s stock, valued at approximately $226,000.
Several other institutional investors and hedge funds have also made changes to their positions in ALLY. Salem Investment Counselors Inc. lifted its position in Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares during the last quarter. WealthPLAN Partners LLC acquired a new stake in Ally Financial in the 1st quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Ally Financial by 167.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 751 shares during the period. Natixis purchased a new stake in shares of Ally Financial during the fourth quarter valued at $41,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Ally Financial by 618.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,479 shares during the period. 86.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have commented on ALLY shares. Piper Sandler upped their price objective on shares of Ally Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, September 29th. Bank of America lowered their price objective on shares of Ally Financial from $30.00 to $28.00 in a research report on Tuesday, October 10th. JPMorgan Chase & Co. cut their target price on shares of Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 24th. Finally, The Goldman Sachs Group dropped their price target on Ally Financial from $32.00 to $31.00 in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.80.
Ally Financial Price Performance
NYSE ALLY opened at $27.04 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $8.16 billion, a PE ratio of 7.39 and a beta of 1.38. Ally Financial Inc. has a 12-month low of $21.58 and a 12-month high of $35.78. The company has a 50 day moving average price of $25.98 and a two-hundred day moving average price of $26.91.
Ally Financial (NYSE:ALLY – Get Free Report) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Ally Financial had a net margin of 14.64% and a return on equity of 11.36%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $1.12 EPS. Ally Financial’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Ally Financial Inc. will post 3.2 earnings per share for the current fiscal year.
Ally Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Tuesday, October 31st. Ally Financial’s payout ratio is 32.79%.
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 Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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