Empowered Funds LLC Takes $4.15 Million Position in Ally Financial Inc. (NYSE:ALLY)

Empowered Funds LLC bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 116,600 shares of the financial services provider’s stock, valued at approximately $4,150,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Ally Financial during the first quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Ally Financial in the second quarter valued at $41,000. Finally, Allworth Financial LP increased its holdings in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALLY. Wells Fargo & Company decreased their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. Bank of America lowered their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $46.00 to $40.00 in a report on Monday, October 7th. Finally, BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Ally Financial has a consensus rating of “Hold” and an average target price of $40.69.

Ally Financial Stock Performance

Shares of ALLY stock opened at $36.22 on Monday. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46. The stock’s fifty day simple moving average is $35.14 and its 200 day simple moving average is $38.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $11.04 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts predict that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, November 1st. Ally Financial’s payout ratio is currently 48.00%.

Ally Financial Company Profile

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.