Texas Permanent School Fund Corp bought a new position in Ally Financial Inc. (NYSE:ALLY – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 230,515 shares of the financial services provider’s stock, valued at approximately $6,150,000. Texas Permanent School Fund Corp owned approximately 0.08% of Ally Financial as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Comerica Bank bought a new position in Ally Financial during the 2nd quarter valued at approximately $6,675,000. Private Management Group Inc. increased its position in Ally Financial by 9.4% during the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock valued at $21,855,000 after buying an additional 70,615 shares in the last quarter. ING Groep NV bought a new position in Ally Financial during the 3rd quarter valued at approximately $4,336,000. Janney Montgomery Scott LLC increased its position 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 buying an additional 8,572 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Ally Financial in the 3rd quarter worth $2,490,000. Institutional investors own 86.04% of the company’s stock.
Ally Financial Trading Down 0.3 %
Ally Financial stock opened at $36.09 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $10.89 billion, a PE ratio of 12.07 and a beta of 1.41. The stock has a 50-day moving average of $34.34 and a two-hundred day moving average of $29.52. Ally Financial Inc. has a one year low of $21.58 and a one year high of $38.03.
Ally Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, January 31st. Ally Financial’s payout ratio is 40.13%.
Wall Street Analyst Weigh In
A number of analysts have commented on ALLY shares. Deutsche Bank Aktiengesellschaft started coverage on Ally Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $47.00 target price for the company. Barclays lifted their target price on Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Raymond James lowered Ally Financial from a “market perform” rating to an “underperform” rating in a report on Friday, January 5th. TheStreet upgraded Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. dropped their price target on Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ally Financial has an average rating of “Hold” and a consensus target price of $35.00.
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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