Edgestream Partners L.P. Buys New Stake in Ally Financial Inc. (NYSE:ALLY)

Edgestream Partners L.P. acquired a new stake in Ally Financial Inc. (NYSE:ALLY) in the 2nd quarter, HoldingsChannel reports. The fund acquired 104,546 shares of the financial services provider’s stock, valued at approximately $2,824,000.

Other hedge funds have also recently modified their holdings of the company. Roundview Capital LLC purchased a new stake in Ally Financial during the first quarter worth $242,000. Cetera Advisor Networks LLC acquired a new stake in shares of Ally Financial during the 1st quarter valued at about $214,000. D.A. Davidson & CO. purchased a new position in shares of Ally Financial in the 1st quarter valued at about $261,000. MetLife Investment Management LLC acquired a new position in Ally Financial in the 1st quarter worth about $294,000. Finally, Rhumbline Advisers boosted its position in Ally Financial by 1.4% during the first quarter. Rhumbline Advisers now owns 291,312 shares of the financial services provider’s stock worth $12,666,000 after purchasing an additional 4,099 shares in the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.

Ally Financial Stock Up 1.3 %

NYSE ALLY opened at $27.51 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.91. Ally Financial Inc. has a 52 week low of $21.58 and a 52 week high of $35.78. The business’s fifty day simple moving average is $25.96 and its 200-day simple moving average is $26.94. The firm has a market cap of $8.30 billion, a PE ratio of 7.52 and a beta of 1.38.

Ally Financial (NYSE:ALLY) last posted 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 net margin of 14.64% and a return on equity of 11.36%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business posted $1.12 EPS. Ally Financial’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Ally Financial Inc. will post 3.2 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is 32.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TheStreet cut Ally Financial from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. StockNews.com started coverage on shares of Ally Financial in a report on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets dropped their target price on shares of Ally Financial from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 19th. Morgan Stanley reduced their price target on shares of Ally Financial from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Thursday, October 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $29.80.

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.