1832 Asset Management L.P. Grows Holdings in Ally Financial Inc. (NYSE:ALLY)

1832 Asset Management L.P. grew its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 6.8% in the first quarter, Holdings Channel reports. The firm owned 34,605 shares of the financial services provider’s stock after acquiring an additional 2,211 shares during the period. 1832 Asset Management L.P.’s holdings in Ally Financial were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALLY. Trust Co. of Toledo NA OH raised its position in Ally Financial by 1.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 287 shares in the last quarter. WBI Investments LLC boosted its position in Ally Financial by 2.2% during the 4th quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 316 shares in the last quarter. Signet Financial Management LLC lifted its position in shares of Ally Financial by 4.8% during the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after buying an additional 330 shares during the last quarter. Xponance Inc. boosted its position in shares of Ally Financial by 1.4% in the 4th quarter. Xponance Inc. now owns 33,366 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 472 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Ally Financial by 1.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,253 shares of the financial services provider’s stock worth $1,309,000 after buying an additional 484 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALLY shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Citigroup initiated coverage on shares of Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Evercore ISI lifted their target price on shares of Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. BMO Capital Markets upped their price target on Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company lifted their price objective on Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.78.

Ally Financial Stock Performance

Ally Financial stock traded up $0.64 during midday trading on Friday, hitting $43.99. 1,988,217 shares of the company’s stock were exchanged, compared to its average volume of 3,126,937. The firm’s 50 day simple moving average is $40.23 and its 200 day simple moving average is $38.49. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $44.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that Ally Financial Inc. will post 3.42 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.73%. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.