Dimensional Fund Advisors LP increased its position in Ally Financial Inc. (NYSE:ALLY – Free Report) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,364,998 shares of the financial services provider’s stock after purchasing an additional 299,523 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ally Financial were worth $198,930,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new position in Ally Financial during the 1st quarter valued at about $217,000. Creative Planning boosted its stake in Ally Financial by 136.9% during the 2nd quarter. Creative Planning now owns 46,963 shares of the financial services provider’s stock valued at $1,268,000 after purchasing an additional 27,141 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Ally Financial by 33.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 33,935 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 8,572 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Ally Financial by 52.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,910 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 7,151 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Ally Financial during the 2nd quarter valued at about $2,228,000. 86.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on ALLY. Citigroup cut their price target on Ally Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. Piper Sandler lifted their target price on shares of Ally Financial from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, September 29th. Stephens reissued an “equal weight” rating and set a $32.00 target price on shares of Ally Financial in a research report on Thursday, August 31st. TD Cowen began coverage on shares of Ally Financial in a research report on Wednesday, November 1st. They set a “market perform” rating and a $28.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Ally Financial from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $29.80.
Ally Financial Trading Up 1.3 %
Shares of ALLY stock opened at $27.50 on Friday. The company’s fifty day simple moving average is $25.96 and its two-hundred day simple moving average is $26.93. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a 1 year low of $21.58 and a 1 year high of $35.78. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 7.51 and a beta of 1.38.
Ally Financial (NYSE:ALLY – Get Free Report) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.06 billion. Ally Financial had a net margin of 14.64% and a return on equity of 11.36%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 3.2 earnings per share for the current year.
Ally Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.36%. Ally Financial’s dividend payout ratio (DPR) is currently 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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